NASDAQ:LEGN 8 December 2025 - 24 February 2026

Legend Biotech shares slipped 0.2% to $19.72 in premarket trading Tuesday after a 9% jump the previous session, following news of Gilead’s $7.8 billion deal to buy Arcellx. The acquisition put focus on rival CAR-T therapies, with Arcellx’s anito-cel under FDA review and analysts citing possible safety advantages over Legend’s Carvykti, which generated $1.9 billion in 2025 sales.

Legend Biotech shares jumped 7.4% to $22.53 after Oppenheimer initiated coverage with an “Outperform” rating and a $75 price target. The stock had hit a 52-week low of $21.16 earlier this week amid concerns over Carvykti demand and competition. Investors await the company’s Jan. 14 presentation at the J.P. Morgan Healthcare Conference.

Legend Biotech shares dropped 4.7% to $20.49 Monday, hitting a 52-week low and leaving the stock down 55% from its high. The decline comes ahead of the J.P. Morgan Healthcare Conference, where CEO Ying Huang is set to present Jan. 14. Broader biotech stocks also fell, with key ETFs down about 1%. Investors are watching for updates on CARVYKTI, Legend’s CAR-T therapy for multiple myeloma.

Legend Biotech shares fell 8% to around $24.10 on December 9, 2025, hitting fresh 52-week lows despite reporting 70% year-on-year revenue growth in Q3, driven by CARVYKTI sales. The stock has dropped about 32% over the past year and trades well below key moving averages. Net loss narrowed to $39.7 million for the quarter. Markets reacted to a small earnings miss.