JPMorgan Chase & Co. Has $32.48 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

JPMorgan Chase & Co. boosted its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 176.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 998,016 shares of the company's stock after purchasing an additional 636,390 shares during the period. JPMorgan Chase & Co. owned about 0.55% of Legend Biotech worth $32,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEGN. Signaturefd LLC raised its stake in shares of Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after acquiring an additional 1,579 shares during the last quarter. OFI Invest Asset Management bought a new position in Legend Biotech in the 4th quarter valued at $77,000. Blue Trust Inc. boosted its stake in Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after purchasing an additional 5,478 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Legend Biotech in the 3rd quarter valued at about $229,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Legend Biotech by 12.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock valued at $238,000 after purchasing an additional 835 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Up 2.3 %

Shares of LEGN traded up $0.72 during midday trading on Friday, hitting $32.00. The stock had a trading volume of 1,638,571 shares, compared to its average volume of 1,219,859. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -33.68 and a beta of 0.21. The company has a 50 day simple moving average of $35.32 and a two-hundred day simple moving average of $38.24. Legend Biotech Co. has a twelve month low of $29.27 and a twelve month high of $60.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $179.00 million. During the same quarter last year, the firm earned ($0.40) EPS. Legend Biotech's revenue for the quarter was up 134.6% compared to the same quarter last year. On average, analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. 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. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of Legend Biotech in a research note on Tuesday. Finally, Piper Sandler reissued an "overweight" rating and set a $78.00 price target 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Legend Biotech currently has an average rating of "Moderate Buy" and a consensus target price of $79.00.

About Legend Biotech

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).