Vontobel Holding Ltd. Sells 345 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Vontobel Holding Ltd. lowered its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,267 shares of the company’s stock after selling 345 shares during the quarter. Vontobel Holding Ltd.’s holdings in Legend Biotech were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in Legend Biotech by 10,075.0% in the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares during the last quarter. American International Group Inc. grew its position in Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after buying an additional 300 shares in the last quarter. AM Squared Ltd bought a new position in Legend Biotech during the second quarter valued at about $71,000. California State Teachers Retirement System raised its holdings in Legend Biotech by 196.3% in the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after acquiring an additional 2,216 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Legend Biotech during the 1st quarter worth approximately $199,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Up 1.4 %

Shares of LEGN opened at $43.45 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. The company has a market cap of $7.92 billion, a price-to-earnings ratio of -33.42 and a beta of 0.10. The stock has a fifty day moving average price of $51.18 and a two-hundred day moving average price of $49.18. Legend Biotech Co. has a 52-week low of $38.60 and a 52-week high of $70.13.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $125.25 million. During the same period in the previous year, the business posted ($0.27) earnings per share. The firm’s revenue for the quarter was up 154.4% compared to the same quarter last year. Analysts predict that Legend Biotech Co. will post -1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LEGN has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price for the company. TD Cowen dropped their price objective on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, July 15th. BMO Capital Markets reiterated an “outperform” rating and set a $90.00 target price on shares of Legend Biotech in a research report on Wednesday, July 3rd. HC Wainwright reissued a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a research note on Wednesday, October 16th. Finally, Scotiabank raised their price target on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 12th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $82.08.

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).