Legend Biotech (NASDAQ: LEGN) reported an insider transaction on March 25, 2026, when Chief Executive Officer Huang Ying sold 9,936 ordinary shares, a filing with the Securities and Exchange Commission shows. The shares were sold at a weighted average price of $8.77, producing gross proceeds of approximately $87,138.
The execution prices for the shares ranged between $8.63 and $8.91. After completing the sale, Huang directly holds 247,438 ordinary shares of the company, per the Form 4 disclosure.
The insider sale occurred while Legend Biotech's stock was trading close to its 52-week low of $16.24 and had declined about 48% over the prior six months. Despite the recent share-price weakness, an InvestingPro analysis cited in company materials identifies the stock as undervalued and includes it on a list of the most undervalued equities. A comprehensive Pro Research Report for Legend Biotech, along with coverage on over 1,400 U.S. stocks, is available to subscribers seeking deeper analysis.
On the operational front, Legend Biotech released fourth-quarter and full-year 2025 financial results showing total revenue for the quarter of approximately $306 million, topping Raymond James' estimate of $288 million. The company reported adjusted earnings per share of $(0.08), which compared favorably to the projected $(0.10). The improvement was attributed to higher license revenues and reduced research-and-development expenditures.
Sales of the company’s CAR-T therapy, Carvykti, reached $555 million in the fourth quarter and $1.9 billion for the full year. Legend Biotech’s share of those totals was $306.3 million for the quarter and $1.03 billion for the full year, respectively.
Research coverage following the results was broadly constructive on ratings, though price targets varied. RBC Capital lowered its price target to $62 from $66 while maintaining an Outperform rating after updating its model. Raymond James kept an Outperform rating with an $86 price target, citing the quarter’s strength. Truist Securities maintained a Buy rating with a $70 target, emphasizing company capacity, and Jefferies reiterated a Buy rating with a $69 target, highlighting strong Carvykti sales momentum and projecting robust sales into 2026.
Context and takeaway - The chief executive's sale is a discrete, reported transaction disclosed via Form 4 and does not by itself indicate management sentiment beyond the filing. It comes against a backdrop of meaningful Carvykti revenue growth and mixed market reaction reflected in diverging analyst price targets and a depressed share price near the 52-week low.