Legend Biotech stock is trading -60.78% below its average target price of $81.75 after dropping -4.6% during today's afternoon session. Analysts are giving the Mid-Cap Pharmaceutical company an average rating of buy and target prices ranging from $60.0 to $95.0 per share.
The stock has an unusually large proportion of its shares sold short at 23.9%, and a short ratio of 15.37. Since 1.31% 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 an average number of institutional investors are invested in the stock, with 51.2% of Legend Biotech's shares being owned by this investor type.
Institutions Invested in Legend Biotech
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | FMR, LLC | 10% | 18,330,219 | $587,666,846 |
| 2024-09-30 | Price (T.Rowe) Associates Inc | 6% | 11,165,584 | $357,968,638 |
| 2024-09-30 | RA Capital Management, L.P. | 4% | 7,506,934 | $240,672,314 |
| 2024-09-30 | HHLR Advisors, LTD | 4% | 6,636,496 | $212,766,070 |
| 2024-09-30 | Westfield Capital Management Co LP | 3% | 5,038,505 | $161,534,477 |
| 2024-09-30 | Blackrock Inc. | 2% | 4,495,079 | $144,112,238 |
| 2024-09-30 | Invesco Ltd. | 1% | 2,287,606 | $73,340,651 |
| 2024-09-30 | Massachusetts Financial Services Co. | 1% | 2,275,158 | $72,941,568 |
| 2024-09-30 | Capital International Investors | 1% | 2,224,388 | $71,313,882 |
| 2024-09-30 | Janus Henderson Group PLC | 1% | 2,185,634 | $70,071,429 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Legend Biotech.
