Krane Funds Advisors LLC Has $915,000 Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Krane Funds Advisors LLC decreased its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 5.9% in the third quarter, Holdings Channel reports. The fund owned 18,780 shares of the company’s stock after selling 1,180 shares during the period. Krane Funds Advisors LLC’s holdings in Legend Biotech were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. US Bancorp DE raised its stake in Legend Biotech by 4.5% during the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after purchasing an additional 293 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. Public Sector Pension Investment Board lifted its position in shares of Legend Biotech by 1.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock worth $1,093,000 after acquiring an additional 400 shares during the period. ProShare Advisors LLC raised 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 buying an additional 494 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Legend Biotech by 9.0% during the first quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company’s stock worth $356,000 after buying an additional 527 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Friday, September 27th. BMO Capital Markets reissued an “outperform” rating and set a $90.00 price target on shares of Legend Biotech in a research note on Wednesday, July 3rd. HC Wainwright restated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Wednesday, October 16th. Scotiabank increased their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Monday, August 12th. Finally, Redburn Atlantic began coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target on the stock. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Buy” and an average target price of $82.08.

Legend Biotech Stock Performance

Shares of LEGN opened at $43.45 on Tuesday. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of -33.42 and a beta of 0.10. Legend Biotech Co. has a 12 month low of $38.60 and a 12 month high of $70.13. The firm has a fifty day simple moving average of $51.18 and a 200 day simple moving average of $49.18. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25.

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

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).