CenterBook Partners LP Has $4.03 Million Position in Legend Biotech Co. (NASDAQ:LEGN)

CenterBook Partners LP boosted its stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,791 shares of the company's stock after purchasing an additional 48,126 shares during the period. CenterBook Partners LP owned approximately 0.07% of Legend Biotech worth $4,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LEGN. State Street Corp increased its position in shares of Legend Biotech by 0.4% in the 3rd quarter. State Street Corp now owns 1,140,222 shares of the company's stock worth $55,563,000 after purchasing an additional 4,735 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Legend Biotech in the third quarter valued at $458,000. Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech during the 3rd quarter worth $229,000. Geode Capital Management LLC raised its holdings in shares of Legend Biotech by 3.6% during the third quarter. Geode Capital Management LLC now owns 494,864 shares of the company's stock valued at $23,933,000 after acquiring an additional 17,337 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Legend Biotech during the 3rd quarter valued at about $12,837,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Stock Up 3.7 %

Legend Biotech stock traded up $1.20 during mid-day trading on Tuesday, reaching $33.31. The company's stock had a trading volume of 2,045,381 shares, compared to its average volume of 1,226,465. 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 12 month low of $29.27 and a 12 month high of $60.87. The business's 50 day simple moving average is $35.21 and its 200 day simple moving average is $38.06. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -35.06 and a beta of 0.21.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $179.00 million. During the same quarter last year, the company posted ($0.40) earnings per share. Legend Biotech's quarterly revenue was up 134.6% on a year-over-year basis. As a group, research analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LEGN shares. Morgan Stanley cut their target price on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Legend Biotech presently has an average rating of "Moderate Buy" and a consensus price target of $79.00.

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).