Jane Street Group LLC bought a new stake in Legend Biotech Corporation (NASDAQ:LEGN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 44,171 shares of the company’s stock, valued at approximately $1,880,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. acquired a new position in Legend Biotech during the 2nd quarter worth approximately $26,000. Macquarie Group Ltd. purchased a new stake in shares of Legend Biotech in the second quarter valued at approximately $37,000. Russell Investments Group Ltd. acquired a new position in Legend Biotech during the second quarter worth $65,000. Ikarian Capital LLC purchased a new position in Legend Biotech in the second quarter worth $213,000. Finally, Tudor Investment Corp Et Al acquired a new stake in Legend Biotech in the second quarter valued at $373,000. Hedge funds and other institutional investors own 19.03% of the company’s stock.
A number of brokerages have recently issued reports on LEGN. Morgan Stanley assumed coverage on shares of Legend Biotech in a report on Tuesday, June 30th. They issued an “overweight” rating and a $55.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and set a $47.00 target price on shares of Legend Biotech in a research report on Tuesday, August 11th. JPMorgan Chase & Co. started coverage on Legend Biotech in a research report on Wednesday, July 1st. They issued an “overweight” rating and a $50.00 price target for the company. Finally, BidaskClub upgraded shares of Legend Biotech from a “strong sell” rating to a “sell” rating in a research report on Wednesday.
Shares of LEGN traded down $0.27 during trading hours on Wednesday, reaching $32.13. 50,778 shares of the company traded hands, compared to its average volume of 232,648. The company’s fifty day moving average price is $32.80. Legend Biotech Corporation has a fifty-two week low of $28.33 and a fifty-two week high of $43.24.
Legend Biotech Company Profile
Legend Biotech Corporation develops cell therapy solutions for cancer patients. The company was founded in 2014 and is based in Cayman Islands. The company operates as a subsidiary of Genscript Biotech Corporation.
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