Triata Capital Ltd Grows Stake in Legend Biotech Corporation Sponsored ADR $LEGN

Triata Capital Ltd boosted its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,800 shares of the company’s stock after purchasing an additional 54,300 shares during the quarter. Legend Biotech comprises 0.6% of Triata Capital Ltd’s portfolio, making the stock its 14th biggest holding. Triata Capital Ltd’s holdings in Legend Biotech were worth $5,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Legend Biotech by 171.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock valued at $34,000 after buying an additional 662 shares in the last quarter. First Trust Advisors LP raised its position in shares of Legend Biotech by 74.4% during the third quarter. First Trust Advisors LP now owns 20,208 shares of the company’s stock valued at $659,000 after buying an additional 8,621 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Legend Biotech by 20.1% in the third quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock worth $83,089,000 after buying an additional 425,684 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Legend Biotech during the third quarter worth $650,000. Finally, Krane Funds Advisors LLC boosted its position in shares of Legend Biotech by 12.7% during the third quarter. Krane Funds Advisors LLC now owns 38,491 shares of the company’s stock worth $1,228,000 after acquiring an additional 4,330 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Rothschild & Co Redburn cut shares of Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research note on Thursday, February 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Legend Biotech in a research report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Legend Biotech in a report on Monday, February 23rd. Barclays decreased their target price on Legend Biotech from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Finally, HC Wainwright cut their price target on Legend Biotech from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Legend Biotech currently has an average rating of “Moderate Buy” and an average target price of $55.08.

Legend Biotech Trading Up 6.9%

Shares of LEGN opened at $18.97 on Friday. The company’s fifty day simple moving average is $19.60 and its 200-day simple moving average is $26.76. The company has a market cap of $3.50 billion, a P/E ratio of -29.18 and a beta of 0.07. The company has a current ratio of 2.86, a quick ratio of 2.80 and a debt-to-equity ratio of 0.17. Legend Biotech Corporation Sponsored ADR has a twelve month low of $16.24 and a twelve month high of $45.30.

Legend Biotech Profile

Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.