SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 10.9% Stake in Legend Biotech Corp

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a combined beneficial ownership of 10.9% in Legend Biotech Corp, totaling over 40 million shares.

Summary

• FMR LLC and Abigail P. Johnson have filed an Amendment No. 5 to Schedule 13G, disclosing their beneficial ownership in LEGEND BIOTECH CORP.
• As of May 30, 2025, FMR LLC and Abigail P. Johnson collectively beneficially own 40,155,755.20 shares of LEGEND BIOTECH CORP's common stock.
• This represents 10.9% of the total outstanding common stock of LEGEND BIOTECH CORP.
• FMR LLC holds sole voting power over 40,077,540.94 shares and sole dispositive power over 40,155,755.20 shares.
• Abigail P. Johnson, as a control person of FMR LLC, is deemed to beneficially own the same aggregate amount of shares as FMR LLC.
• The shares were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control of the issuer.
• Several subsidiaries of FMR LLC, including Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant and continued institutional investment by a major asset manager, FMR LLC, in Legend Biotech Corp, which can be interpreted as a positive signal of confidence in the company's value and prospects. While it's purely an ownership disclosure, the size of the stake and the reputation of the investor contribute to a moderately positive sentiment.

Positives

• Significant institutional investment from FMR LLC, a major asset manager, indicates confidence in Legend Biotech Corp.
• The stake represents a substantial 10.9% of the company's common stock, highlighting a strong commitment from a prominent investor.

Negatives

• No specific negative information regarding Legend Biotech Corp's operations or financial performance is disclosed in this ownership filing.

Risks

• No specific risks related to Legend Biotech Corp's operations, financial health, or future prospects are disclosed in this ownership filing, as it is solely a beneficial ownership report.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Legend Biotech Corp's future performance or outlook.

Industry Context

This filing indicates a significant investment by a major asset management firm, FMR LLC, in the biotechnology sector, specifically in Legend Biotech Corp. Such institutional stakes can signal investor confidence in the company's long-term prospects within the competitive biotech industry.

Stakeholder Impact

• Shareholders: Increased institutional ownership may be viewed positively, potentially signaling stability or future growth prospects, and could increase trading liquidity.
• Management: Awareness of a significant institutional shareholder may influence strategic decisions, though the filing states the stake is not for control purposes.
• Regulatory Bodies: The filing ensures transparency regarding significant ownership stakes, fulfilling regulatory requirements.

Key Dates

Keywords

Legend Biotech Corp, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Biotech, SEC Filing, Ownership Disclosure