Legend Biotech Co. (NASDAQ:LEGN – Get Free Report) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 11,000,000 shares, a drop of 17.0% from the May 31st total of 13,260,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 9.7 days.
Legend Biotech Trading Down 2.8 %
Shares of NASDAQ:LEGN traded down $1.28 during midday trading on Tuesday, reaching $44.74. 908,357 shares of the company’s stock were exchanged, compared to its average volume of 1,070,691. The firm’s 50 day simple moving average is $43.77 and its two-hundred day simple moving average is $53.60. The company has a quick ratio of 5.57, a current ratio of 5.66 and a debt-to-equity ratio of 0.25. Legend Biotech has a fifty-two week low of $38.60 and a fifty-two week high of $77.32.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. The firm had revenue of $93.90 million during the quarter, compared to the consensus estimate of $143.24 million. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. The company’s quarterly revenue was up 158.7% on a year-over-year basis. During the same period last year, the company earned ($0.40) EPS. On average, research analysts anticipate that Legend Biotech will post -1.93 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on LEGN
Hedge Funds Weigh In On Legend Biotech
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC lifted its stake in Legend Biotech by 2.5% during the fourth quarter. Avior Wealth Management LLC now owns 7,396 shares of the company’s stock worth $445,000 after purchasing an additional 182 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Legend Biotech by 5.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,884 shares of the company’s stock worth $294,000 after purchasing an additional 253 shares during the last quarter. US Bancorp DE lifted its stake in Legend Biotech by 4.5% in the first quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after buying an additional 293 shares during the last quarter. American International Group Inc. lifted its stake in Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after buying an additional 300 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in Legend Biotech by 2.3% in the fourth quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company’s stock valued at $1,230,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.
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).
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