Legend Biotech Co. (NASDAQ:LEGN) Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 361,562 shares of the company's stock after selling 132,805 shares during the period. Marshall Wace LLP owned about 0.20% of Legend Biotech worth $11,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LEGN. Jump Financial LLC grew its position in shares of Legend Biotech by 2,108.6% in the fourth quarter. Jump Financial LLC now owns 150,182 shares of the company's stock valued at $4,887,000 after purchasing an additional 143,382 shares during the period. Guggenheim Capital LLC grew its holdings in Legend Biotech by 8.7% in the 4th quarter. Guggenheim Capital LLC now owns 36,924 shares of the company's stock valued at $1,202,000 after buying an additional 2,940 shares during the period. Sterling Capital Management LLC increased its stake in shares of Legend Biotech by 5.6% during the 4th quarter. Sterling Capital Management LLC now owns 83,871 shares of the company's stock valued at $2,729,000 after acquiring an additional 4,443 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of Legend Biotech by 63.6% during the 4th quarter. CenterBook Partners LP now owns 123,791 shares of the company's stock worth $4,028,000 after acquiring an additional 48,126 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Legend Biotech by 4,917.1% in the fourth quarter. Renaissance Technologies LLC now owns 908,100 shares of the company's stock worth $29,550,000 after acquiring an additional 890,000 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Legend Biotech Stock Up 0.1 %

LEGN stock traded up $0.04 during midday trading on Friday, hitting $34.28. 570,668 shares of the company's stock were exchanged, compared to its average volume of 1,232,594. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -36.08 and a beta of 0.21. 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 firm has a 50 day moving average price of $34.76 and a 200-day moving average price of $37.28. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm's revenue for the quarter was up 134.6% compared to the same quarter last year. During the same period last year, the business earned ($0.40) EPS. On average, analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

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).