Barclays PLC Has $7.81 Million Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Barclays PLC cut its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 18.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,350 shares of the company's stock after selling 35,663 shares during the period. Barclays PLC owned about 0.09% of Legend Biotech worth $7,814,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LEGN. Blue Trust Inc. boosted its stake in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company's stock valued at $36,000 after buying an additional 806 shares in the last quarter. AM Squared Ltd bought a new position in shares of Legend Biotech in the second quarter worth about $71,000. Quantbot Technologies LP acquired a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $148,000. California State Teachers Retirement System increased its position in Legend Biotech by 196.3% during the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock worth $188,000 after purchasing an additional 2,216 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Legend Biotech in the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 70.89% of the company's stock.

Legend Biotech Trading Down 2.0 %

LEGN traded down $0.71 during trading on Wednesday, reaching $33.97. 1,075,455 shares of the stock traded hands, compared to its average volume of 1,136,132. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average is $42.08 and its 200 day moving average is $47.69. Legend Biotech Co. has a 12 month low of $32.66 and a 12 month high of $70.13. The stock has a market capitalization of $6.20 billion, a PE ratio of -35.76 and a beta of 0.08.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. The business had revenue of $160.20 million during the quarter, compared to analysts' expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm's revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. Equities analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

LEGN has been the subject of several research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Redburn Atlantic began coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a "buy" rating and a $86.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $81.54.

Legend Biotech 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).