Decheng Capital LLC Sells 80,000 Shares of Legend Biotech Corporation Sponsored ADR $LEGN
Decheng Capital LLC sold 80,000 shares of Legend Biotech, reducing its holdings by 80% in Q2. Legend Biotech's stock is now its 21st largest position, valued at $710,000. Institutional investors own 70.89% of the stock. Analysts have set new price targets, with a consensus rating of "Moderate Buy" and a target of $72.10. Legend Biotech's stock opened at $27.75, with a market cap of $5.13 billion. The company reported Q3 revenue of $272.33 million, up 70% YoY, and a negative EPS of ($0.11), beating estimates.
Decheng Capital LLC decreased its holdings in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 80.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,000 shares of the company's stock after selling 80,000 shares during the period. Legend Biotech makes up about 0.2% of Decheng Capital LLC's portfolio, making the stock its 21st biggest position. Decheng Capital LLC's holdings in Legend Biotech were worth $710,000 at the end of the most recent quarter.
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A number of other institutional investors also recently modified their holdings of the business. Quarry LP acquired a new stake in Legend Biotech in the first quarter valued at about $48,000. Brooklyn Investment Group raised its stake in Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock worth $59,000 after acquiring an additional 1,583 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Legend Biotech by 913.0% in the second quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company's stock worth $74,000 after acquiring an additional 1,890 shares during the last quarter. Allostery Investments LP acquired a new stake in shares of Legend Biotech in the 1st quarter valued at approximately $161,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Legend Biotech by 193.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company's stock valued at $167,000 after purchasing an additional 3,238 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on LEGN. Royal Bank Of Canada lowered their price objective on shares of Legend Biotech from $75.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. lowered their price target on shares of Legend Biotech from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 9th. Cantor Fitzgerald increased their price target on Legend Biotech from $66.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, November 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Legend Biotech in a report on Monday. Finally, Johnson Rice set a $60.00 price objective on Legend Biotech in a research report on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.10.
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Legend Biotech Stock Performance
NASDAQ LEGN opened at $27.75 on Thursday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -42.69 and a beta of 0.09. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17. Legend Biotech Corporation Sponsored ADR has a twelve month low of $25.71 and a twelve month high of $45.30. The stock has a fifty day simple moving average of $31.06 and a 200 day simple moving average of $34.00.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $272.33 million for the quarter, compared to analyst estimates of $277.91 million. Legend Biotech had a negative return on equity of 24.47% and a negative net margin of 26.37%.The business's revenue was up 70.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) EPS. Sell-side analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.
About Legend Biotech
(Free Report)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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