Geode Capital Management LLC Has $16.81 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Geode Capital Management LLC boosted its holdings in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 519,474 shares of the company's stock after acquiring an additional 24,610 shares during the quarter. Geode Capital Management LLC owned 0.28% of Legend Biotech worth $16,808,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its holdings in Legend Biotech by 12.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,476,151 shares of the company's stock valued at $48,034,000 after purchasing an additional 164,418 shares in the last quarter. Wellington Management Group LLP grew its holdings in Legend Biotech by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company's stock worth $69,010,000 after acquiring an additional 84,405 shares during the last quarter. Schroder Investment Management Group increased its position in Legend Biotech by 74.7% in the 4th quarter. Schroder Investment Management Group now owns 194,508 shares of the company's stock valued at $6,374,000 after acquiring an additional 83,191 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Legend Biotech by 2.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 89,669 shares of the company's stock worth $2,918,000 after purchasing an additional 2,223 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Legend Biotech by 176.0% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

Wall Street Analysts Forecast Growth

LEGN has been the topic of several research reports. Morgan Stanley reduced 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. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a research report on Wednesday, April 16th. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Piper Sandler restated an "overweight" rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Legend Biotech presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.82.

Legend Biotech Stock Down 0.7 %

LEGN traded down $0.26 during trading on Thursday, reaching $34.05. 365,594 shares of the stock were exchanged, compared to its average volume of 1,234,171. The stock's 50 day moving average price is $34.88 and its two-hundred day moving average price is $37.48. Legend Biotech Co. has a twelve month low of $29.27 and a twelve month high of $60.87. The stock has a market cap of $6.25 billion, a P/E ratio of -35.77 and a beta of 0.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

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

Legend Biotech Company 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).