Campbell & CO Investment Adviser LLC Buys Shares of 20,325 Legend Biotech Corporation Sponsored ADR $LEGN

Campbell & CO Investment Adviser LLC purchased a new position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,325 shares of the company’s stock, valued at approximately $721,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new stake in Legend Biotech during the first quarter worth about $48,000. Brooklyn Investment Group grew its stake in shares of Legend Biotech by 1,114.8% in the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock valued at $59,000 after buying an additional 1,583 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Legend Biotech by 913.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,097 shares of the company’s stock worth $74,000 after buying an additional 1,890 shares during the last quarter. Allostery Investments LP purchased a new stake in shares of Legend Biotech during the 1st quarter valued at approximately $161,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Legend Biotech by 193.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the company’s stock valued at $167,000 after acquiring an additional 3,238 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

Shares of LEGN opened at $30.29 on Friday. The company has a quick ratio of 4.57, a current ratio of 4.71 and a debt-to-equity ratio of 0.30. Legend Biotech Corporation Sponsored ADR has a fifty-two week low of $27.34 and a fifty-two week high of $45.30. The company has a market cap of $5.59 billion, a P/E ratio of -46.60 and a beta of 0.17. The firm’s 50 day moving average price is $32.64 and its 200 day moving average price is $34.32.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $272.33 million during the quarter, compared to the consensus estimate of $277.91 million. Legend Biotech had a negative net margin of 26.37% and a negative return on equity of 24.35%. The company’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. On average, research analysts forecast that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LEGN shares. Morgan Stanley raised their target price on Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their price objective on Legend Biotech from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Barclays decreased their target price on shares of Legend Biotech from $94.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday. Johnson Rice set a $60.00 price target on shares of Legend Biotech in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Legend Biotech in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.10.

About Legend Biotech

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).