Fox Run Management L.L.C. Buys Shares of 12,924 Legend Biotech Co. (NASDAQ:LEGN)

Fox Run Management L.L.C. bought a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 12,924 shares of the company's stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEGN. Bridgewater Associates LP lifted its position in shares of Legend Biotech by 0.3% during the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company's stock worth $8,088,000 after purchasing an additional 516 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Legend Biotech by 12.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock worth $238,000 after acquiring an additional 835 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Legend Biotech by 14.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company's stock valued at $332,000 after acquiring an additional 837 shares during the last quarter. Aigen Investment Management LP lifted its stake in Legend Biotech by 19.6% during the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock worth $240,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Legend Biotech by 5.9% in the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock worth $899,000 after purchasing an additional 1,544 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LEGN. HC Wainwright increased their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Morgan Stanley cut their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $86.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Legend Biotech currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

Legend Biotech Price Performance

LEGN stock traded down $0.33 during trading hours on Friday, hitting $35.06. 504,807 shares of the stock traded hands, compared to its average volume of 1,193,104. Legend Biotech Co. has a one year low of $30.17 and a one year high of $60.87. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.44 billion, a P/E ratio of -36.90 and a beta of 0.19. The stock has a 50-day simple moving average of $36.44 and a 200 day simple moving average of $39.59.

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

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).