IvyRock Asset Management HK Ltd Increases Position in Legend Biotech Corporation Sponsored ADR $LEGN

IvyRock Asset Management HK Ltd boosted its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 869,900 shares of the company's stock after purchasing an additional 25,900 shares during the period. Legend Biotech makes up about 14.2% of IvyRock Asset Management HK Ltd's portfolio, making the stock its 3rd largest holding. IvyRock Asset Management HK Ltd owned 0.47% of Legend Biotech worth $30,873,000 at the end of the most recent reporting period.

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Several other hedge funds also recently modified their holdings of the company. Westfield Capital Management Co. LP raised its stake in shares of Legend Biotech by 21.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 6,917,567 shares of the company's stock worth $234,713,000 after buying an additional 1,203,871 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Legend Biotech by 87.5% during the second quarter. Artisan Partners Limited Partnership now owns 2,122,268 shares of the company's stock worth $75,319,000 after acquiring an additional 990,500 shares during the period. National Bank of Canada FI bought a new stake in Legend Biotech in the first quarter worth about $7,129,000. Matthews International Capital Management LLC raised its position in Legend Biotech by 17.3% in the second quarter. Matthews International Capital Management LLC now owns 1,293,052 shares of the company's stock worth $45,890,000 after acquiring an additional 191,165 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in Legend Biotech in the 1st quarter valued at about $6,018,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LEGN shares. HC Wainwright lowered their price objective on shares of Legend Biotech from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, October 17th. Royal Bank Of Canada reduced their target price on shares of Legend Biotech from $75.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, November 13th. Morgan Stanley upped their price target on Legend Biotech from $81.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price objective on Legend Biotech from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Legend Biotech in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Legend Biotech currently has a consensus rating of "Moderate Buy" and an average target price of $72.10.

• Why Legend Biotech Stock Is Having Its Best Month Yet

Check Out Our Latest Report on Legend Biotech

Legend Biotech Trading Down 4.8%

NASDAQ LEGN opened at $28.00 on Thursday. The firm's 50 day moving average price is $32.34 and its two-hundred day moving average price is $34.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.80 and a current ratio of 2.86. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $45.30. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -43.08 and a beta of 0.17.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Legend Biotech had a negative return on equity of 24.47% and a negative net margin of 26.37%.The company had revenue of $272.33 million during the quarter, compared to analyst estimates of $277.91 million. During the same quarter in the prior year, the company earned ($0.34) earnings per share. The company's revenue for the quarter was up 70.0% on a year-over-year basis. Equities analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).

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Want to see what other hedge funds are holding LEGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report).

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