Ra Capital Management, L.P. Sells 80,707 Shares of Legend Biotech Corporation (NASDAQ:PCVX) Stock

Legend Biotech Corporation (NASDAQ:PCVX) major shareholder Ra Capital Management, L.P. sold 80,707 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $52.08, for a total transaction of $4,203,220.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NASDAQ PCVX traded down $1.73 during trading hours on Thursday, hitting $47.65. 112,171 shares of the stock were exchanged, compared to its average volume of 221,670. Legend Biotech Corporation has a 12-month low of $17.80 and a 12-month high of $58.47. The stock has a 50-day moving average of $46.40.

Legend Biotech (NASDAQ:PCVX) last issued its earnings results on Wednesday, August 12th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($1.06). On average, equities research analysts predict that Legend Biotech Corporation will post -7.38 earnings per share for the current year.

Several research analysts have issued reports on PCVX shares. Cantor Fitzgerald started coverage on shares of Legend Biotech in a research report on Tuesday, July 7th. They set an “overweight” rating and a $55.00 price objective on the stock. Bank of America started coverage on Legend Biotech in a research report on Tuesday, July 7th. They issued a “buy” rating and a $37.00 price target on the stock. BofA Securities began coverage on Legend Biotech in a research note on Tuesday, July 7th. They set a “buy” rating and a $37.00 price objective for the company. Jefferies Financial Group began coverage on Legend Biotech in a research note on Tuesday, July 7th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research cut Legend Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Legend Biotech presently has a consensus rating of “Buy” and an average target price of $45.25.

About Legend Biotech

Vaxcyte, Inc a biopharmaceutical company, develops vaccines for infectious diseases. It offers conjugate, pneumococcal conjugate, and complex antigen-based vaccines. The company has a license to Sutro Biopharma's Xpress CF platforms for cell free protein synthesis and site-specific conjugation. Vaxcyte, Inc was formerly known as SutroVax, Inc and changed its name to Vaxcyte, Inc in May, 2020.

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