Massachusetts Financial Services Co. MA Has $73.66 Million Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Massachusetts Financial Services Co. MA cut its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,263,556 shares of the company's stock after selling 11,602 shares during the period. Massachusetts Financial Services Co. MA owned about 1.24% of Legend Biotech worth $73,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock valued at $238,000 after acquiring an additional 835 shares during the period. Aigen Investment Management LP grew its position in shares of Legend Biotech by 19.6% in the 4th quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock valued at $240,000 after purchasing an additional 1,206 shares during the period. Rhumbline Advisers increased its stake in Legend Biotech by 5.9% during the 4th quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock worth $899,000 after purchasing an additional 1,544 shares in the last quarter. Signaturefd LLC raised its holdings in Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after buying an additional 1,579 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Legend Biotech by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company's stock valued at $564,000 after buying an additional 1,609 shares in the last quarter. 70.89% of the stock is owned by institutional investors.

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Legend Biotech Stock Performance

NASDAQ:LEGN traded down $1.00 on Thursday, hitting $31.08. The company's stock had a trading volume of 206,749 shares, compared to its average volume of 1,209,589. Legend Biotech Co. has a one year low of $29.27 and a one year high of $60.87. The firm has a market capitalization of $5.71 billion, a P/E ratio of -32.78 and a beta of 0.21. The stock has a fifty day moving average of $35.56 and a two-hundred day moving average of $38.42. 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 announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.46. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company's quarterly revenue was up 134.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. Research analysts predict that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on LEGN. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley decreased their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Piper Sandler reissued an "overweight" rating and issued a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. Finally, HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.00.

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).