Jump Financial LLC Boosts Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Jump Financial LLC lifted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 2,108.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 150,182 shares of the company's stock after purchasing an additional 143,382 shares during the period. Jump Financial LLC owned 0.08% of Legend Biotech worth $4,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC lifted its stake in shares of Legend Biotech by 1,052.7% during 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 period. OFI Invest Asset Management bought a new position in shares of Legend Biotech in the 4th quarter worth $77,000. Quadrant Capital Group LLC grew its stake in shares of Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock worth $124,000 after purchasing an additional 3,738 shares during the period. Blue Trust Inc. increased its holdings in Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock valued at $190,000 after purchasing an additional 5,478 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Legend Biotech during the third quarter worth about $229,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Up 2.9 %

Shares of NASDAQ:LEGN traded up $0.93 during mid-day trading on Tuesday, hitting $33.17. 222,257 shares of the company traded hands, compared to its average volume of 1,233,680. The stock has a market cap of $6.09 billion, a P/E ratio of -34.99 and a beta of 0.21. The stock has a 50-day moving average price of $34.96 and a two-hundred day moving average price of $37.53. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87. 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 (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 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 company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. During the same period last year, the business posted ($0.40) earnings per share. Legend Biotech's revenue was up 134.6% on a year-over-year basis. On average, equities research analysts forecast that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

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