Capital International Inc. CA Purchases 10,864 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Capital International Inc. CA lifted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 581,376 shares of the company's stock after buying an additional 10,864 shares during the period. Capital International Inc. CA owned about 0.32% of Legend Biotech worth $18,918,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of LEGN. Invesco Ltd. grew its stake in shares of Legend Biotech by 44.7% in the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company's stock worth $107,706,000 after purchasing an additional 1,022,365 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Legend Biotech by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company's stock valued at $69,010,000 after purchasing an additional 84,405 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Legend Biotech by 155.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company's stock worth $48,991,000 after buying an additional 915,891 shares during the period. Alliancebernstein L.P. lifted its holdings in Legend Biotech by 12.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,476,151 shares of the company's stock valued at $48,034,000 after buying an additional 164,418 shares during the period. Finally, Matthews International Capital Management LLC grew its holdings in 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 period. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Price Performance

LEGN stock traded up $0.07 during midday trading on Friday, reaching $34.31. The company had a trading volume of 311,649 shares, compared to its average volume of 1,234,101. The firm has a 50-day moving average price of $34.83 and a 200-day moving average price of $37.38. The company has a market capitalization of $6.30 billion, a P/E ratio of -36.17 and a beta of 0.21. Legend Biotech Co. has a 1 year low of $29.27 and a 1 year high of $60.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $179.00 million. During the same quarter last year, the business posted ($0.40) earnings per share. The company's revenue for the quarter was up 134.6% on a year-over-year basis. On average, research analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on LEGN shares. Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. Morgan Stanley reduced their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a report on Tuesday. HC Wainwright reiterated a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a report on Wednesday, April 16th. Finally, Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.82.

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).