Eagle Health Investments LP Makes New Investment in Legend Biotech Corporation Sponsored ADR $LEGN

Eagle Health Investments LP acquired a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 408,652 shares of the company’s stock, valued at approximately $8,884,000. Legend Biotech comprises 2.0% of Eagle Health Investments LP’s investment portfolio, making the stock its 18th biggest holding. Eagle Health Investments LP owned about 0.22% of Legend Biotech as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Advisors LP acquired a new position in shares of Legend Biotech in the 2nd quarter valued at approximately $411,000. Squarepoint Ops LLC boosted its holdings in shares of Legend Biotech by 77.6% in the 2nd quarter. Squarepoint Ops LLC now owns 148,681 shares of the company’s stock valued at $5,277,000 after buying an additional 64,956 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Legend Biotech by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,081 shares of the company’s stock valued at $2,984,000 after buying an additional 11,771 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Legend Biotech by 3.5% in the 2nd quarter. Alliancebernstein L.P. now owns 1,560,596 shares of the company’s stock valued at $55,386,000 after buying an additional 52,344 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Legend Biotech in the 2nd quarter valued at approximately $15,790,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Trading Up 4.4%

LEGN opened at $28.12 on Thursday. Legend Biotech Corporation Sponsored ADR has a 1-year low of $16.24 and a 1-year high of $45.30. The stock’s fifty day simple moving average is $21.81 and its 200 day simple moving average is $22.52. The stock has a market cap of $5.20 billion, a PE ratio of -41.35 and a beta of 0.29.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business had revenue of $305.10 million during the quarter, compared to the consensus estimate of $306.51 million. During the same quarter last year, the company posted ($0.07) EPS. The firm’s revenue was up 56.5% on a year-over-year basis. Equities analysts forecast that Legend Biotech Corporation Sponsored ADR will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LEGN shares. Royal Bank Of Canada increased their price objective on Legend Biotech from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Barclays cut their price objective on Legend Biotech from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and issued a $69.00 price objective on shares of Legend Biotech in a report on Tuesday, March 10th. Rothschild & Co Redburn downgraded Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Thursday, February 12th. Finally, Weiss Ratings downgraded Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Insiders Place Their Bets

In other Legend Biotech news, CEO Ying Huang sold 9,936 shares of the stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $8.77, for a total transaction of $87,138.72. Following the transaction, the chief executive officer owned 247,438 shares in the company, valued at $2,170,031.26. This trade represents a 3.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.02% of the company’s stock.

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.