Triata Capital Ltd Purchases 54,300 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Triata Capital Ltd grew its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 50.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,800 shares of the company’s stock after buying an additional 54,300 shares during the quarter. Legend Biotech accounts for 0.6% of Triata Capital Ltd’s portfolio, making the stock its 14th largest position. Triata Capital Ltd owned about 0.09% of Legend Biotech worth $5,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. lifted its position in Legend Biotech by 25.5% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 21,901 shares of the company’s stock valued at $775,000 after acquiring an additional 4,451 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Legend Biotech by 34.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,751 shares of the company’s stock worth $2,653,000 after purchasing an additional 19,141 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Legend Biotech in the second quarter worth $721,000. PNC Financial Services Group Inc. lifted its holdings in shares of Legend Biotech by 41.1% during the second quarter. PNC Financial Services Group Inc. now owns 6,936 shares of the company’s stock valued at $246,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Legend Biotech by 18.0% during the second quarter. Candriam S.C.A. now owns 261,815 shares of the company’s stock valued at $9,292,000 after purchasing an additional 39,983 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

LEGN has been the subject of several research analyst reports. TD Cowen reiterated a “hold” rating and issued a $21.00 price objective (down from $62.00) on shares of Legend Biotech in a report on Thursday, January 22nd. Truist Financial cut shares of Legend Biotech from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Legend Biotech in a report on Monday, December 29th. UBS Group reduced their price target on shares of Legend Biotech from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Legend Biotech in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.08.

Legend Biotech Stock Up 6.9%

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

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.