Legend Biotech Corporation Sponsored ADR $LEGN Position Raised by CenterBook Partners LP

CenterBook Partners LP grew its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 37.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,531 shares of the company’s stock after acquiring an additional 39,863 shares during the quarter. CenterBook Partners LP owned about 0.08% of Legend Biotech worth $4,746,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management increased its stake in shares of Legend Biotech by 102.6% in the third quarter. OFI Invest Asset Management now owns 1,228 shares of the company’s stock valued at $40,000 after purchasing an additional 622 shares during the period. Quantbot Technologies LP increased its position in Legend Biotech by 5.4% in the 2nd quarter. Quantbot Technologies LP now owns 17,615 shares of the company’s stock valued at $625,000 after acquiring an additional 906 shares during the period. Vontobel Holding Ltd. raised its stake in Legend Biotech by 8.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,713 shares of the company’s stock valued at $382,000 after acquiring an additional 941 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Legend Biotech by 19.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 7,345 shares of the company’s stock worth $240,000 after acquiring an additional 1,177 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Legend Biotech by 2.0% in the second quarter. Royal London Asset Management Ltd. now owns 60,800 shares of the company’s stock valued at $2,158,000 after acquiring an additional 1,200 shares in the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Trading Up 1.3%

NASDAQ:LEGN opened at $18.35 on Thursday. The stock has a fifty day simple moving average of $20.46 and a 200 day simple moving average of $28.33. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.23 and a beta of 0.10. Legend Biotech Corporation Sponsored ADR has a 1-year low of $16.24 and a 1-year high of $45.30. The company has a quick ratio of 2.80, a current ratio of 2.86 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Oppenheimer initiated coverage on Legend Biotech in a report on Wednesday, January 7th. They set an “outperform” rating and a $75.00 target price on the stock. TD Cowen reissued a “hold” rating and issued a $21.00 price objective (down previously from $62.00) on shares of Legend Biotech in a research note on Thursday, January 22nd. Rothschild & Co Redburn cut Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research note on Thursday, February 12th. Cantor Fitzgerald lowered their target price on Legend Biotech from $75.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Legend Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.08.

Legend Biotech Company 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.