Legend Biotech Co. (NASDAQ:LEGN) Shares Acquired by Decheng Capital LLC

Decheng Capital LLC increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,558 shares of the company's stock after purchasing an additional 45,000 shares during the period. Legend Biotech accounts for about 1.1% of Decheng Capital LLC's investment portfolio, making the stock its 18th largest holding. Decheng Capital LLC owned 0.08% of Legend Biotech worth $4,997,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LEGN. Invesco Ltd. boosted its stake in shares of Legend Biotech by 44.7% during the 4th quarter. Invesco Ltd. now owns 3,309,971 shares of the company's stock worth $107,706,000 after acquiring an additional 1,022,365 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Legend Biotech by 155.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company's stock valued at $48,991,000 after acquiring an additional 915,891 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Legend Biotech by 4,917.1% during the 4th quarter. Renaissance Technologies LLC now owns 908,100 shares of the company's stock worth $29,550,000 after purchasing an additional 890,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Legend Biotech by 176.0% during the 4th quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock valued at $32,475,000 after purchasing an additional 636,390 shares in the last quarter. Finally, IvyRock Asset Management HK Ltd boosted its holdings in Legend Biotech by 3,827.9% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 267,100 shares of the company's stock worth $8,691,000 after purchasing an additional 260,300 shares in the last quarter. Institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Up 0.1 %

Shares of NASDAQ LEGN opened at $34.28 on Friday. 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 cap of $6.30 billion, a price-to-earnings ratio of -36.08 and a beta of 0.21. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87. The firm's 50-day simple moving average is $34.76 and its 200 day simple moving average is $37.28.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.46. The business had revenue of $186.50 million during the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech's revenue for the quarter was up 134.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. On average, research analysts expect that Legend Biotech Co. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Royal Bank of Canada restated an "outperform" rating and issued a $84.00 price target on shares of Legend Biotech in a research report on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Piper Sandler reissued an "overweight" rating and set a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $78.82.

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).

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