Janus Henderson Group PLC Sells 173,422 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Janus Henderson Group PLC trimmed its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 7.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,185,634 shares of the company's stock after selling 173,422 shares during the quarter. Janus Henderson Group PLC owned approximately 1.20% of Legend Biotech worth $106,503,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Legend Biotech by 0.6% during the first quarter. Vanguard Group Inc. now owns 129,359 shares of the company's stock valued at $7,256,000 after buying an additional 738 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Legend Biotech by 196.3% during the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock valued at $188,000 after buying an additional 2,216 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Legend Biotech by 35.7% during the second quarter. Harbor Capital Advisors Inc. now owns 10,729 shares of the company's stock valued at $475,000 after buying an additional 2,825 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Legend Biotech by 2.4% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 58,426 shares of the company's stock valued at $2,588,000 after buying an additional 1,374 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company's stock valued at $36,000 after buying an additional 806 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

Shares of Legend Biotech stock traded down $0.79 during trading on Thursday, reaching $41.66. The company's stock had a trading volume of 1,153,551 shares, compared to its average volume of 1,116,413. 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 business's fifty day moving average price is $43.95 and its 200-day moving average price is $47.90. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of -43.85 and a beta of 0.08. Legend Biotech Co. has a one year low of $36.92 and a one year high of $70.13.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The company's quarterly revenue was up 66.9% compared to the same quarter last year. As a group, equities research analysts predict that Legend Biotech Co. will post -1.23 earnings per share for the current year.

Analysts Set New Price Targets

LEGN has been the topic of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and set a $73.00 price target on shares of Legend Biotech in a report on Wednesday, November 13th. Redburn Atlantic began coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a "buy" rating and a $86.00 price objective for the company. Scotiabank lifted their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $86.00 price objective on shares of Legend Biotech in a research report on Tuesday, October 29th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $81.46.

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).