Alberta Investment Management Corp Acquires 79,663 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Alberta Investment Management Corp increased its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 143.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,259 shares of the company's stock after purchasing an additional 79,663 shares during the quarter. Alberta Investment Management Corp owned 0.07% of Legend Biotech worth $4,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEGN. Exane Asset Management purchased a new position in shares of Legend Biotech during the 4th quarter worth $2,284,000. Matthews International Capital Management LLC boosted its stake in shares of Legend Biotech by 14.9% during the 4th quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock worth $38,577,000 after acquiring an additional 153,665 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Legend Biotech by 14.2% during the 4th quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock worth $8,684,000 after acquiring an additional 33,024 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Legend Biotech during the 3rd quarter worth $12,837,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Legend Biotech by 5.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company's stock worth $245,526,000 after acquiring an additional 266,296 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LEGN shares. Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler restated an "overweight" rating and set a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. HC Wainwright reiterated a "buy" rating and issued a $73.00 price target on shares of Legend Biotech in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $79.50.

Legend Biotech Trading Up 2.2 %

Legend Biotech stock traded up $0.86 during trading hours on Friday, hitting $39.78. The company had a trading volume of 708,939 shares, compared to its average volume of 1,217,012. The firm has a market cap of $7.26 billion, a P/E ratio of -41.81 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. Legend Biotech Co. has a 1 year low of $30.17 and a 1 year high of $70.13. The company has a 50-day moving average price of $34.89 and a two-hundred day moving average price of $43.20.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).