US Bancorp DE Has $242,000 Holdings in Legend Biotech Co. (NASDAQ:LEGN)

US Bancorp DE cut its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 55.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,976 shares of the company’s stock after selling 6,279 shares during the period. US Bancorp DE’s holdings in Legend Biotech were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. American International Group Inc. raised 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 valued at $50,000 after acquiring an additional 300 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Legend Biotech by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock valued at $1,093,000 after purchasing an additional 400 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Legend Biotech by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after purchasing an additional 494 shares during the last quarter. Sei Investments Co. boosted its holdings in Legend Biotech by 1.5% in the second quarter. Sei Investments Co. now owns 46,492 shares of the company’s stock worth $2,059,000 after purchasing an additional 702 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Legend Biotech by 0.6% during the first quarter. Vanguard Group Inc. now owns 129,359 shares of the company’s stock worth $7,256,000 after buying an additional 738 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Price Performance

Legend Biotech stock opened at $39.35 on Thursday. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -41.42 and a beta of 0.11. Legend Biotech Co. has a 12-month low of $38.60 and a 12-month high of $70.13. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $46.86 and its 200 day simple moving average is $48.40.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.22%. The business had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Legend Biotech’s revenue was up 66.9% compared to the same quarter last year. As a group, research analysts anticipate that Legend Biotech Co. will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on LEGN. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Wednesday. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a research report on Tuesday, October 29th. Finally, Scotiabank upped their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $81.46.

Legend Biotech 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).