SCHEDULE: FMR LLC, Abigail Johnson Disclose 13.1% Stake in Legend Biotech

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a combined beneficial ownership of 13.1% in Legend Biotech Corp's Ordinary Shares as of December 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 48,294,445.48 Ordinary Shares of LEGEND BIOTECH CORP.
• This represents 13.1% of the total outstanding Ordinary Shares of LEGEND BIOTECH CORP.
• FMR LLC, a Delaware-organized parent holding company, holds sole voting power over 48,202,106.24 shares and sole dispositive power over 48,294,445.48 shares.
• Abigail P. Johnson, a U.S. citizen, holds sole dispositive power over 48,294,445.48 shares, with her ownership being indirect through FMR LLC.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Legend Biotech Corp.
• Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as a significant stake by a reputable institutional investor like FMR LLC can signal confidence in Legend Biotech's long-term prospects, even if it's a passive investment.

Positives

• Significant institutional investment from FMR LLC, a major financial services firm, indicates confidence in LEGEND BIOTECH CORP.
• The investment is stated to be for ordinary course of business, suggesting a long-term, passive investment rather than an activist stake.

Future Outlook

NA

Management Comments

• Securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

StockSavvy.ai notes that significant institutional ownership, especially from a prominent asset manager like FMR LLC, can often be viewed positively in the biotech sector, signaling a belief in the long-term potential of the company's pipeline or market position. This level of ownership by a major fund can provide a degree of stability and investor confidence for a company like Legend Biotech.

Comparison to Industry Standards

• This filing is a disclosure of beneficial ownership, not a performance report. Therefore, direct comparisons to industry-standard financial or operational results are not applicable.
• StockSavvy.ai observes that a 13.1% stake by a single institutional entity like FMR LLC is a substantial position, indicating a high conviction investment. For example, other biotech companies often see similar large stakes from specialized healthcare funds or diversified asset managers, such as BlackRock or Vanguard, which typically hold significant passive stakes across various industries. While specific comparable projects or results are not relevant to a 13G filing, the size of this stake is comparable to major institutional holdings seen in other mid-to-large cap biotech firms, where such investors often accumulate significant positions over time.

Related Party Transactions

• The filing details the relationship between Abigail P. Johnson and FMR LLC, where she is a Director, Chairman, and CEO, and her family are predominant owners of FMR LLC's Series B voting common shares. This structure means her beneficial ownership of Legend Biotech shares is derived through FMR LLC, establishing a related party relationship between the reporting persons (FMR LLC and Abigail P. Johnson) in the context of this ownership disclosure.

Stakeholder Impact

• Shareholders: Increased institutional ownership by a reputable firm like FMR LLC may enhance investor confidence and potentially reduce volatility. It signals a significant vote of confidence in the company's long-term prospects.
• Management: The filing explicitly states the investment is passive and not for influencing control, which may reassure Legend Biotech's management regarding potential activist pressure from this specific shareholder.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to monitor their investment in LEGEND BIOTECH CORP and file amendments to Schedule 13G as required by changes in their beneficial ownership.

Key Dates

Recommendation

The disclosure of a substantial 13.1% beneficial ownership by FMR LLC and its leadership in Legend Biotech Corp is a positive indicator of institutional confidence. However, as a Schedule 13G filing, it lacks the comprehensive financial and operational details necessary for a definitive 'buy' or 'sell' recommendation. The investment is stated to be passive, not for control, which suggests a long-term holding strategy by FMR LLC. Therefore, for existing investors, maintaining their current position (hold) is a reasonable approach, while new investors should consider this information as part of a broader due diligence process that includes the company's financial performance, pipeline, and market valuation.

Keywords

LEGEND BIOTECH CORP, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Ordinary Shares, Institutional Investor, Biotech, SEC Filing