Candriam S.C.A. Buys 27,465 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Candriam S.C.A. raised its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,452 shares of the company's stock after acquiring an additional 27,465 shares during the quarter. Candriam S.C.A. owned about 0.22% of Legend Biotech worth $12,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Legend Biotech during the third quarter valued at $148,000. Public Employees Retirement System of Ohio bought a new position in shares of Legend Biotech in the 3rd quarter valued at about $229,000. Blue Trust Inc. grew its position in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after buying an additional 5,478 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $300,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Legend Biotech during the third quarter worth approximately $306,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Stock Up 9.3 %

Shares of LEGN stock traded up $3.16 on Tuesday, hitting $37.19. 1,731,105 shares of the stock were exchanged, compared to its average volume of 1,183,693. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $6.79 billion, a P/E ratio of -39.15 and a beta of 0.19. Legend Biotech Co. has a fifty-two week low of $30.17 and a fifty-two week high of $69.24. The business has a 50-day moving average of $35.38 and a 200 day moving average of $41.28.

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Analysts Set New Price Targets

LEGN has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $73.00 target price on shares of Legend Biotech in a report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Finally, Piper Sandler restated an "overweight" rating and set a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $79.50.

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).