Los Angeles Capital Management LLC Purchases New Position in Legend Biotech Co. (NASDAQ:LEGN)

Los Angeles Capital Management LLC acquired a new stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 172,440 shares of the company's stock, valued at approximately $5,611,000. Los Angeles Capital Management LLC owned about 0.09% of Legend Biotech at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in shares of Legend Biotech during the 3rd quarter valued at approximately $148,000. Blue Trust Inc. boosted its position in Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after buying an additional 5,478 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Legend Biotech during the third quarter worth $229,000. Aigen Investment Management LP bought a new position in Legend Biotech during the 3rd quarter worth $300,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Legend Biotech in the third quarter valued at about $306,000. Institutional investors and hedge funds own 70.89% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LEGN. Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright reissued a "buy" rating and set a $73.00 target price on shares of Legend Biotech in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $79.50.

Legend Biotech Stock Down 4.7 %

NASDAQ LEGN traded down $1.71 during trading hours on Friday, hitting $35.01. The company's stock had a trading volume of 1,977,227 shares, compared to its average volume of 1,171,269. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The company's 50-day simple moving average is $35.23 and its two-hundred day simple moving average is $42.32. The company has a market capitalization of $6.39 billion, a PE ratio of -36.85 and a beta of 0.18. Legend Biotech Co. has a 52 week low of $30.17 and a 52 week high of $69.24.

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).