SCHEDULE: FMR LLC Boosts Legend Biotech Stake to 13.9%

FMR LLC and Abigail P. Johnson have reported a beneficial ownership of 13.9% in Legend Biotech Corp, holding over 51 million common shares as of June 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 51,002,621.92 shares of Legend Biotech Corp's common stock.
• This ownership represents 13.9% of the total outstanding common stock of Legend Biotech Corp.
• The event date requiring this filing was June 30, 2025.
• FMR LLC holds sole voting power over 50,870,156.76 shares and sole dispositive power over 51,002,621.92 shares.
• Abigail P. Johnson, as a Director, Chairman, and Chief Executive Officer of FMR LLC, also reports beneficial ownership of 51,002,621.92 shares with sole dispositive power.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Legend Biotech Corp.

Sentiment

Score: 7

Explanation: The filing indicates a stable, significant institutional investment by FMR LLC in Legend Biotech Corp, which is generally viewed as a positive sign of confidence, without suggesting any negative operational or financial issues.

Positives

• A major institutional investor, FMR LLC, maintains a significant 13.9% stake in Legend Biotech Corp, indicating continued confidence in the company.
• The filing confirms the securities are held in the ordinary course of business and not for control purposes, suggesting a stable, passive investment.

Future Outlook

NA

Management Comments

• The 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

This filing reflects a routine disclosure by a major asset management firm, FMR LLC, regarding its passive investment in a biotechnology company. Such significant institutional holdings are common across various industries, including the highly capital-intensive biotechnology sector, where long-term investments by large funds are often sought.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, potentially reinforcing confidence in the stock's stability due to a large, passive investor.
• Management: Awareness of a substantial, passive institutional investor, which typically implies a focus on long-term value rather than activist demands.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of beneficial ownership by a major institutional investor, FMR LLC, maintaining a significant 13.9% stake in Legend Biotech Corp. It does not contain new financial performance data, strategic updates, or operational insights that would warrant a change in investment thesis. The continued substantial holding by a reputable firm suggests a stable, long-term investment, supporting a 'hold' recommendation for existing investors, while new investors would need to consider broader company fundamentals beyond this ownership disclosure.

Keywords

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