Empire Life Investments Inc. Buys 38,043 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Empire Life Investments Inc. boosted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 38.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,731 shares of the company's stock after buying an additional 38,043 shares during the quarter. Empire Life Investments Inc. owned about 0.07% of Legend Biotech worth $4,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Legend Biotech in the 3rd quarter valued at approximately $148,000. Blue Trust Inc. raised its position in shares of Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock valued at $190,000 after purchasing an additional 5,478 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Legend Biotech in the third quarter worth $212,000. Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech during the 3rd quarter worth $229,000. Finally, Aigen Investment Management LP acquired a new position in Legend Biotech in the 3rd quarter valued at $300,000. Institutional investors and hedge funds own 70.89% of the company's stock.

Legend Biotech Stock Up 1.4 %

Legend Biotech stock traded up $0.53 during midday trading on Wednesday, reaching $38.75. The stock had a trading volume of 787,653 shares, compared to its average volume of 1,241,417. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The firm's fifty day simple moving average is $34.82 and its 200-day simple moving average is $43.23. The stock has a market capitalization of $7.08 billion, a P/E ratio of -40.79 and a beta of 0.18.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LEGN. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, January 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Finally, 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. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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).