This afternoon we watched Legend Biotech rise 2.4% to a price of $40.98 per share. The Mid-Cap Pharmaceutical company is now trading -50.89% below its average target price of $83.45. Analysts have set target prices ranging from $60.0 to $95.0 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 13.7%, and a short ratio of 11.58. Since 1.32% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 49.1% of Legend Biotech's shares being owned by this investor type.
Institutions Invested in Legend Biotech
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | FMR, LLC | 9% | 16,147,032 | $661,786,116 |
| 2024-03-31 | Price (T.Rowe) Associates Inc | 6% | 10,949,120 | $448,749,689 |
| 2024-03-31 | HHLR Advisors, LTD | 3% | 5,984,550 | $245,276,785 |
| 2024-03-31 | Blackrock Inc. | 3% | 5,384,030 | $220,664,472 |
| 2024-03-31 | Wellington Management Group, LLP | 1% | 2,614,423 | $107,152,128 |
| 2024-03-31 | Capital World Investors | 1% | 2,385,960 | $97,788,572 |
| 2024-03-31 | Westfield Capital Management Co LP | 1% | 2,239,774 | $91,797,138 |
| 2024-03-31 | Capital International Investors | 1% | 2,181,074 | $89,391,319 |
| 2024-03-31 | Janus Henderson Group PLC | 1% | 2,014,012 | $82,544,283 |
| 2024-03-31 | Paradigm Biocapital Advisors LP | 1% | 1,982,006 | $81,232,517 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Legend Biotech.
