OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Legend Biotech Co. (NASDAQ:LEGN) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,119 shares of the company’s stock after selling 1,035 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Legend Biotech were worth $1,273,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LEGN. Price T Rowe Associates Inc. MD increased its stake in Legend Biotech by 1.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock valued at $614,137,000 after buying an additional 140,904 shares during the last quarter. RA Capital Management L.P. increased its position in shares of Legend Biotech by 9.5% during the first quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock valued at $384,839,000 after acquiring an additional 596,390 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Legend Biotech by 26.1% during the first quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock worth $125,629,000 after acquiring an additional 463,527 shares during the period. Capital International Investors boosted its position in Legend Biotech by 19.5% in the first quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock worth $122,336,000 after purchasing an additional 356,387 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Legend Biotech by 8.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock valued at $112,982,000 after purchasing an additional 148,855 shares during the period. 70.89% of the stock is owned by institutional investors.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN opened at $40.18 on Wednesday. The company’s fifty day moving average is $47.20 and its 200 day moving average is $48.44. 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 Co. has a 52 week low of $38.60 and a 52 week high of $70.13.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target on the stock. Scotiabank boosted their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Wednesday, October 16th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Legend Biotech presently has an average rating of “Buy” and a consensus price target of $81.46.

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).