Groupama Asset Managment Purchases 17,533 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Groupama Asset Managment raised its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 64.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,907 shares of the company's stock after acquiring an additional 17,533 shares during the quarter. Groupama Asset Managment's holdings in Legend Biotech were worth $1,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LEGN. Signaturefd LLC lifted its stake in shares of Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after purchasing an additional 1,579 shares during the period. OFI Invest Asset Management purchased a new stake in Legend Biotech during the fourth quarter valued at approximately $77,000. Quantbot Technologies LP bought a new position in Legend Biotech in the third quarter worth approximately $148,000. Blue Trust Inc. boosted its stake in shares of Legend Biotech by 1,513.3% during the 4th 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. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech during the 3rd quarter valued at $229,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Legend Biotech Price Performance

NASDAQ LEGN traded down $2.10 during trading on Monday, hitting $29.91. 1,272,463 shares of the stock traded hands, compared to its average volume of 1,211,341. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.49 billion, a P/E ratio of -31.24 and a beta of 0.21. Legend Biotech Co. has a 12-month low of $29.28 and a 12-month high of $60.87. The firm has a 50-day simple moving average of $36.12 and a 200-day simple moving average of $38.89.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.46. The business 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 was up 134.6% on a year-over-year basis. During the same period last year, the company posted ($0.40) EPS. As a group, analysts predict that Legend Biotech Co. will post -1.31 EPS 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).