Hudson Bay Capital Boosts Legend Biotech Stake by 42%

Institutional investor now owns 220,000 shares of the biotech company's stock.

Mar. 21, 2026 at 9:27am

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Hudson Bay Capital Management LP increased its holdings in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 42.4% in the 3rd quarter, according to a recent SEC filing. The institutional investor now owns 220,000 shares of the company's stock, worth approximately $7.17 million.

Why it matters

Legend Biotech is a commercial-stage biopharmaceutical company focused on developing and commercializing chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Hudson Bay Capital's increased stake in the company suggests the institutional investor sees potential in Legend Biotech's pipeline and future growth prospects.

The details

According to the filing, Hudson Bay Capital acquired an additional 65,500 shares of Legend Biotech in the 3rd quarter, bringing its total position to 220,000 shares. This represents approximately 0.12% ownership of the company. The increased investment comes as Legend Biotech continues to advance its lead asset, ciltacabtagene autoleucel, a BCMA-directed CAR-T therapy for relapsed or refractory multiple myeloma.

  • Hudson Bay Capital filed its 13F report for the 3rd quarter of 2026 on March 21, 2026.

The players

Hudson Bay Capital Management LP

An institutional investment firm that manages a diverse portfolio of assets, including a position in Legend Biotech Corporation.

Legend Biotech Corporation

A commercial-stage biopharmaceutical company focused on developing and commercializing chimeric antigen receptor T-cell (CAR-T) therapies for oncology.

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The takeaway

Hudson Bay Capital's increased stake in Legend Biotech suggests the institutional investor sees significant potential in the biotech company's pipeline and future growth prospects, particularly with its lead CAR-T therapy candidate for multiple myeloma.