New York State Common Retirement Fund Increases Stake in Legend Biotech Co. (NASDAQ:LEGN)

New York State Common Retirement Fund increased its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 196.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,276 shares of the company's stock after purchasing an additional 39,256 shares during the period. New York State Common Retirement Fund's holdings in Legend Biotech were worth $1,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. abrdn plc increased its position in shares of Legend Biotech by 110.4% during the 3rd quarter. abrdn plc now owns 33,729 shares of the company's stock valued at $1,628,000 after purchasing an additional 17,696 shares during the last quarter. Empire Life Investments Inc. boosted its stake in Legend Biotech by 75.2% in the third quarter. Empire Life Investments Inc. now owns 98,688 shares of the company's stock worth $4,809,000 after buying an additional 42,368 shares in the last quarter. National Pension Service grew its position in Legend Biotech by 4.3% during the third quarter. National Pension Service now owns 23,535 shares of the company's stock valued at $1,147,000 after acquiring an additional 961 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Legend Biotech by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 177,227 shares of the company's stock worth $8,636,000 after acquiring an additional 14,672 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Legend Biotech in the 3rd quarter worth approximately $300,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LEGN shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 21st. Piper Sandler reiterated 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 restated an "outperform" rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Legend Biotech currently has a consensus rating of "Buy" and a consensus price target of $79.50.

Legend Biotech Trading Up 1.0 %

NASDAQ LEGN traded up $0.36 on Thursday, hitting $35.06. The company's stock had a trading volume of 476,454 shares, compared to its average volume of 1,173,210. The firm has a market cap of $6.40 billion, a P/E ratio of -36.85 and a beta of 0.19. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $69.24. The company's 50-day simple moving average is $35.27 and its 200 day simple moving average is $41.87. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

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).