Exane Asset Management Purchases Shares of 67,782 Legend Biotech Co. (NASDAQ:LEGN)

Exane Asset Management purchased a new position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,782 shares of the company's stock, valued at approximately $2,284,000. Legend Biotech comprises about 1.3% of Exane Asset Management's portfolio, making the stock its 15th largest position.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Legend Biotech during the third quarter valued at $148,000. SG Americas Securities LLC purchased a new position in Legend Biotech during the 3rd quarter valued at about $212,000. Public Employees Retirement System of Ohio bought a new stake in Legend Biotech during the third quarter worth about $229,000. Blue Trust Inc. grew its holdings in 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 purchasing an additional 5,478 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Legend Biotech during the third quarter valued at approximately $300,000. Hedge funds and other institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Performance

LEGN stock traded down $1.10 during trading on Tuesday, reaching $34.63. The stock had a trading volume of 985,933 shares, compared to its average volume of 1,314,923. The stock's 50 day moving average is $35.38 and its two-hundred day moving average is $44.09. The firm has a market cap of $6.32 billion, a PE ratio of -36.45 and a beta of 0.18. Legend Biotech Co. has a 52 week low of $30.17 and a 52 week high of $70.13. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $160.20 million for the quarter, compared to the consensus estimate of $143.91 million. During the same quarter last year, the firm posted ($0.17) earnings per share. The firm's revenue was up 66.9% compared to the same quarter last year. As a group, equities analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on LEGN shares. Piper Sandler restated an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright reissued a "buy" rating and set a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $79.50.

Legend Biotech 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).