First Beijing Investment Acquires Stake in Legend Biotech
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 17 2026
0mins
Source: Yahoo Finance
- New Investment Position: First Beijing Investment Ltd disclosed a new stake in Legend Biotech (NASDAQ:LEGN) by acquiring 2,296,335 shares in Q1 2026, with an estimated transaction value of $43.78 million, indicating a strategic interest in the biotech sector.
- Valuation Change: The quarter-end market value of this position stood at $41.54 million, reflecting price movements during the period, suggesting a relatively stable performance in the market despite fluctuations.
- Asset Management Ratio: This acquisition represents 1.79% of First Beijing's reportable assets under management as per the 13F filing, indicating a cautious approach to diversifying into emerging biotech companies, even though it does not rank among the top five holdings.
- Market Performance Analysis: As of May 15, 2026, Legend Biotech shares were priced at $27.55, down 0.5% year-over-year, underperforming the S&P 500 by 25.7 percentage points, prompting investors to carefully assess its future potential.
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Analyst Views on LEGN
Wall Street analysts forecast LEGN stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 28.260
Low
48.00
Averages
68.10
High
90.00
Current: 28.260
Low
48.00
Averages
68.10
High
90.00
About LEGN
Legend Biotech Corporation is a global biopharmaceutical company. The Company is engaged in the discovery, development, manufacturing and commercialization of cell therapies for oncology and other indications. Its lead product candidate, ciltacabtagene autoleucel (cilta-cel), referred to as LCAR- B38M, is an autologous chimeric antigen receptor (CAR-T) cell therapy that targets the B-cell maturation antigen (BCMA), which is a highly expressed protein in several hematologic malignancies, including multiple myeloma (MM). In addition to cilta-cel, the Company has a portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, including Non-Hodgkins Lymphoma, acute lymphoblastic leukemia, gastric cancer, esophageal cancer, pancreatic cancer, colorectal cancer, small cell lung cancer, and non-small cell lung cancer. It is also engaged in developing an allogeneic gamma delta CAR-T product candidate and an allogeneic CAR-NK product candidate targeting BCMA for MM.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Legend Biotech Presents Preliminary Data for LB2102 at ASCO Meeting
- Preliminary Data Presentation: Legend Biotech showcased preliminary Phase 1 data for LB2102 at the 2026 ASCO Annual Meeting, indicating clinical activity in relapsed or refractory small cell lung cancer and large cell neuroendocrine carcinoma, suggesting the potential for CAR-T therapies to expand into solid tumors, which could open new market opportunities for the company.
- New CARVYKTI Data: The company also presented new data on CARVYKTI® at ASCO, further supporting its efficacy and safety profile in patients with multiple myeloma, enhancing its competitive position in the market and potentially driving sales growth.
- Impact of Licensing Agreement: The exclusive global licensing agreement with Novartis grants them rights to develop and commercialize DLL3-targeted CAR-T therapies, marking a strategic expansion for the company in the CAR-T space, which could lead to significant revenue streams.
- Investor Relations Event: Legend Biotech will host an investor relations event during the ASCO meeting featuring clinician experts discussing how CARVYKTI® is transforming the treatment landscape for multiple myeloma, which is expected to boost investor confidence and attract more attention.
See More
First Beijing Investment Acquires Stake in Legend Biotech
- New Investment Disclosure: According to an SEC filing dated May 13, 2026, First Beijing Investment Ltd acquired 2,296,335 shares of Legend Biotech in Q1, with an estimated trade value of $43.78 million, indicating a strategic interest in the biotech sector.
- Position Value Change: By quarter-end, the market value of this position stood at $41.54 million, reflecting a net valuation change due to both purchase activity and share price fluctuations, suggesting mixed investor confidence in the stock.
- Asset Management Proportion: This transaction positions Legend Biotech at 1.79% of First Beijing's 13F reportable assets under management, indicating a tentative investment strategy as it does not rank among the top five holdings, yet shows initial interest in the company.
- Market Performance Analysis: As of May 15, 2026, Legend Biotech shares were priced at $27.55, down 0.5% year-over-year, underperforming the S&P 500 by 25.7 percentage points, prompting investors to closely monitor its CAR-T pipeline and the implications of its partnership with Janssen.
See More
First Beijing Investment Acquires Stake in Legend Biotech
- New Investment Position: First Beijing Investment Ltd disclosed a new stake in Legend Biotech (NASDAQ:LEGN) by acquiring 2,296,335 shares in Q1 2026, with an estimated transaction value of $43.78 million, indicating a strategic interest in the biotech sector.
- Valuation Change: The quarter-end market value of this position stood at $41.54 million, reflecting price movements during the period, suggesting a relatively stable performance in the market despite fluctuations.
- Asset Management Ratio: This acquisition represents 1.79% of First Beijing's reportable assets under management as per the 13F filing, indicating a cautious approach to diversifying into emerging biotech companies, even though it does not rank among the top five holdings.
- Market Performance Analysis: As of May 15, 2026, Legend Biotech shares were priced at $27.55, down 0.5% year-over-year, underperforming the S&P 500 by 25.7 percentage points, prompting investors to carefully assess its future potential.
See More
Legend Biotech Q1 Earnings Beat Expectations Despite Revenue Miss
- Earnings Performance: Legend Biotech reported a Q1 GAAP EPS of -$0.15, beating expectations by $0.02, indicating potential improvements in the company's profitability outlook.
- Revenue Growth: The total revenue for Q1 was $305.1 million, reflecting a 56.4% year-over-year increase, although it fell short of expectations by $1.42 million, highlighting strong market demand for its products amid sales challenges.
- Collaboration Revenue Surge: Revenue from the Janssen collaboration reached $298.4 million, up from $185.6 million in the same quarter last year, showcasing the company's success in CARVYKTI® sales and strengthening its market position.
- Cash Position: As of March 31, 2026, the company reported cash and cash equivalents totaling $834.6 million, providing financial flexibility for future R&D and market expansion initiatives.
See More
Legend Biotech Surges 18% on Bullish Analyst Updates
- Analyst Recommendations: Analysts from H.C. Wainwright and RBC Capital reiterated their buy ratings on Legend Biotech, propelling the stock to an 18% gain on Monday, sharply contrasting with the S&P 500's 0.2% decline.
- Price Target Increases: RBC's Leonid Timashev set a price target of $62 per share, while H.C. Wainwright's Mitchell Kapoor set a target of $50, reflecting optimistic market expectations for Legend's future performance.
- Industry Dynamics Impact: Eli Lilly's announcement of a potential $7 billion acquisition of clinical-stage oncology developer Kelonia Therapeutics sparked interest in Legend's future potential, particularly regarding its CAR-T cell therapy applications.
- R&D Progress: Kapoor noted that data from Legend's early-stage CD19/CD20 trial is expected to be published soon, and if successful, it could significantly enhance treatment options for certain cancers, further solidifying its position in the biotech sector.
See More
Legend Biotech Shares Surge 18% Following Analyst Upgrades
- Analyst Optimism: Analysts from H.C. Wainwright and RBC Capital reiterated buy ratings for Legend Biotech, propelling the stock to an 18% gain on Monday, sharply contrasting with the S&P 500's 0.2% decline.
- Price Target Increases: Timashev set a price target of $62 per share while Kapoor set $50, reflecting strong analyst confidence in Legend's future performance, potentially attracting more investor interest.
- Positive Market Reaction: The announcement of Eli Lilly's acquisition of clinical-stage oncology developer Kelonia Therapeutics for up to $7 billion sparked excitement about Legend's future, particularly given its innovative CAR-T therapy science.
- Pipeline Progress: Kapoor noted that data from Legend's early-stage CD19/CD20 in vivo trial is expected to be published soon, and if successful, it could hold significant promise for treating certain cancers, further solidifying Legend's position in the biotech sector.
See More
Legend Biotech Presents Preliminary Data for LB2102 at ASCO Meeting
- Preliminary Data Presentation: Legend Biotech showcased preliminary Phase 1 data for LB2102 at the 2026 ASCO Annual Meeting, indicating clinical activity in relapsed or refractory small cell lung cancer and large cell neuroendocrine carcinoma, suggesting the potential for CAR-T therapies to expand into solid tumors, which could open new market opportunities for the company.
- New CARVYKTI Data: The company also presented new data on CARVYKTI® at ASCO, further supporting its efficacy and safety profile in patients with multiple myeloma, enhancing its competitive position in the market and potentially driving sales growth.
- Impact of Licensing Agreement: The exclusive global licensing agreement with Novartis grants them rights to develop and commercialize DLL3-targeted CAR-T therapies, marking a strategic expansion for the company in the CAR-T space, which could lead to significant revenue streams.
- Investor Relations Event: Legend Biotech will host an investor relations event during the ASCO meeting featuring clinician experts discussing how CARVYKTI® is transforming the treatment landscape for multiple myeloma, which is expected to boost investor confidence and attract more attention.
See More
First Beijing Investment Acquires Stake in Legend Biotech
- New Investment Disclosure: According to an SEC filing dated May 13, 2026, First Beijing Investment Ltd acquired 2,296,335 shares of Legend Biotech in Q1, with an estimated trade value of $43.78 million, indicating a strategic interest in the biotech sector.
- Position Value Change: By quarter-end, the market value of this position stood at $41.54 million, reflecting a net valuation change due to both purchase activity and share price fluctuations, suggesting mixed investor confidence in the stock.
- Asset Management Proportion: This transaction positions Legend Biotech at 1.79% of First Beijing's 13F reportable assets under management, indicating a tentative investment strategy as it does not rank among the top five holdings, yet shows initial interest in the company.
- Market Performance Analysis: As of May 15, 2026, Legend Biotech shares were priced at $27.55, down 0.5% year-over-year, underperforming the S&P 500 by 25.7 percentage points, prompting investors to closely monitor its CAR-T pipeline and the implications of its partnership with Janssen.
See More
First Beijing Investment Acquires Stake in Legend Biotech
- New Investment Position: First Beijing Investment Ltd disclosed a new stake in Legend Biotech (NASDAQ:LEGN) by acquiring 2,296,335 shares in Q1 2026, with an estimated transaction value of $43.78 million, indicating a strategic interest in the biotech sector.
- Valuation Change: The quarter-end market value of this position stood at $41.54 million, reflecting price movements during the period, suggesting a relatively stable performance in the market despite fluctuations.
- Asset Management Ratio: This acquisition represents 1.79% of First Beijing's reportable assets under management as per the 13F filing, indicating a cautious approach to diversifying into emerging biotech companies, even though it does not rank among the top five holdings.
- Market Performance Analysis: As of May 15, 2026, Legend Biotech shares were priced at $27.55, down 0.5% year-over-year, underperforming the S&P 500 by 25.7 percentage points, prompting investors to carefully assess its future potential.
See More
Legend Biotech Q1 Earnings Beat Expectations Despite Revenue Miss
- Earnings Performance: Legend Biotech reported a Q1 GAAP EPS of -$0.15, beating expectations by $0.02, indicating potential improvements in the company's profitability outlook.
- Revenue Growth: The total revenue for Q1 was $305.1 million, reflecting a 56.4% year-over-year increase, although it fell short of expectations by $1.42 million, highlighting strong market demand for its products amid sales challenges.
- Collaboration Revenue Surge: Revenue from the Janssen collaboration reached $298.4 million, up from $185.6 million in the same quarter last year, showcasing the company's success in CARVYKTI® sales and strengthening its market position.
- Cash Position: As of March 31, 2026, the company reported cash and cash equivalents totaling $834.6 million, providing financial flexibility for future R&D and market expansion initiatives.
See More
Legend Biotech Surges 18% on Bullish Analyst Updates
- Analyst Recommendations: Analysts from H.C. Wainwright and RBC Capital reiterated their buy ratings on Legend Biotech, propelling the stock to an 18% gain on Monday, sharply contrasting with the S&P 500's 0.2% decline.
- Price Target Increases: RBC's Leonid Timashev set a price target of $62 per share, while H.C. Wainwright's Mitchell Kapoor set a target of $50, reflecting optimistic market expectations for Legend's future performance.
- Industry Dynamics Impact: Eli Lilly's announcement of a potential $7 billion acquisition of clinical-stage oncology developer Kelonia Therapeutics sparked interest in Legend's future potential, particularly regarding its CAR-T cell therapy applications.
- R&D Progress: Kapoor noted that data from Legend's early-stage CD19/CD20 trial is expected to be published soon, and if successful, it could significantly enhance treatment options for certain cancers, further solidifying its position in the biotech sector.
See More
Legend Biotech Shares Surge 18% Following Analyst Upgrades
- Analyst Optimism: Analysts from H.C. Wainwright and RBC Capital reiterated buy ratings for Legend Biotech, propelling the stock to an 18% gain on Monday, sharply contrasting with the S&P 500's 0.2% decline.
- Price Target Increases: Timashev set a price target of $62 per share while Kapoor set $50, reflecting strong analyst confidence in Legend's future performance, potentially attracting more investor interest.
- Positive Market Reaction: The announcement of Eli Lilly's acquisition of clinical-stage oncology developer Kelonia Therapeutics for up to $7 billion sparked excitement about Legend's future, particularly given its innovative CAR-T therapy science.
- Pipeline Progress: Kapoor noted that data from Legend's early-stage CD19/CD20 in vivo trial is expected to be published soon, and if successful, it could hold significant promise for treating certain cancers, further solidifying Legend's position in the biotech sector.
See More
