This morning we watched Legend Biotech drop -2.1% to a price of $55.76 per share. The Large-Cap Pharmaceutical company is now trading -35.58% below its average target price of $86.56. Analysts have set target prices ranging from $65.0 to $100.0 per share for Legend Biotech, and have given the stock an average rating of buy.
The stock has an above average percentage of its shares sold short at 11.1%, and a short ratio of 10.73. The company's insiders own 1.29% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 48.7% of Legend Biotech's shares being owned by this investor type.
Institutions Invested in Legend Biotech
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | FMR, LLC | 8% | 12,797,994 | $713,616,123 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 7% | 10,808,216 | $602,666,106 |
| 2023-12-31 | RA Capital Management, L.P. | 4% | 6,264,707 | $349,320,051 |
| 2023-12-31 | HHLR Advisors, LTD | 4% | 5,984,550 | $333,698,497 |
| 2023-12-31 | Blackrock Inc. | 3% | 5,266,188 | $293,642,634 |
| 2023-12-31 | Capital World Investors | 1% | 2,385,960 | $133,041,125 |
| 2023-12-31 | Wellington Management Group, LLP | 1% | 2,306,391 | $128,604,358 |
| 2023-12-31 | Massachusetts Financial Services Co. | 1% | 1,984,826 | $110,673,894 |
| 2023-12-31 | Paradigm Biocapital Advisors LP | 1% | 1,894,644 | $105,645,346 |
| 2023-12-31 | Janus Henderson Group PLC | 1% | 1,865,157 | $104,001,151 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Legend Biotech.
