Legend Biotech Co. (NASDAQ:LEGN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 39.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,808,081 shares of the company's stock after selling 4,357,503 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.73% of Legend Biotech worth $221,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Exane Asset Management acquired a new stake in Legend Biotech in the 4th quarter valued at approximately $2,284,000. Matthews International Capital Management LLC increased its holdings in shares of Legend Biotech by 14.9% during the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock valued at $38,577,000 after purchasing an additional 153,665 shares during the period. Nordea Investment Management AB raised its stake in shares of Legend Biotech by 14.2% during the fourth quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock valued at $8,684,000 after purchasing an additional 33,024 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Legend Biotech in the third quarter worth about $12,837,000. Finally, Geode Capital Management LLC grew its position in Legend Biotech by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 494,864 shares of the company's stock valued at $23,933,000 after buying an additional 17,337 shares in the last quarter. Institutional investors own 70.89% of the company's stock.

Legend Biotech Price Performance

Shares of LEGN stock opened at $34.28 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The stock's fifty day simple moving average is $34.76 and its 200 day simple moving average is $37.28. Legend Biotech Co. has a one year low of $29.27 and a one year high of $60.87. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -36.08 and a beta of 0.21.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted 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. The company had revenue of $186.50 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 134.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share. On average, analysts expect that Legend Biotech Co. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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).

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