EntryPoint Capital LLC Makes New $248,000 Investment in Legend Biotech Co. (NASDAQ:LEGN)

EntryPoint Capital LLC bought a new position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,614 shares of the company's stock, valued at approximately $248,000.

A number of other large investors have also bought and sold shares of LEGN. Signaturefd LLC boosted its stake in Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after purchasing an additional 1,579 shares in the last quarter. OFI Invest Asset Management acquired a new position in Legend Biotech during the 4th quarter worth about $77,000. Quantbot Technologies LP bought a new stake in Legend Biotech during the 3rd quarter worth about $148,000. Public Employees Retirement System of Ohio acquired a new stake in Legend Biotech in the 3rd quarter valued at about $229,000. Finally, Blue Trust Inc. raised its stake 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 worth $190,000 after acquiring an additional 5,478 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Trading Up 2.6 %

Shares of Legend Biotech stock traded up $0.83 during trading hours on Wednesday, hitting $32.35. The company's stock had a trading volume of 550,717 shares, compared to its average volume of 1,196,187. The company has a market capitalization of $5.94 billion, a PE ratio of -34.03 and a beta of 0.19. Legend Biotech Co. has a 12 month low of $30.17 and a 12 month 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. The stock has a 50 day moving average of $36.40 and a 200 day moving average of $39.27.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $186.50 million for the quarter, compared to analysts' expectations of $179.00 million. During the same quarter in the previous year, the business posted ($0.40) EPS. The business's quarterly revenue was up 134.6% compared to the same quarter last year. Analysts predict that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

LEGN has been the subject of a number of research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Cantor Fitzgerald restated an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reiterated an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Morgan Stanley reduced their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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).