Why Is LEGN Up Today?

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.