Matthews International Capital Management LLC Has $38.58 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Matthews International Capital Management LLC boosted its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185,516 shares of the company's stock after purchasing an additional 153,665 shares during the period. Legend Biotech makes up 7.9% of Matthews International Capital Management LLC's holdings, making the stock its 3rd biggest holding. Matthews International Capital Management LLC owned 0.65% of Legend Biotech worth $38,577,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Legend Biotech during the third quarter worth about $148,000. Blue Trust Inc. raised its stake in shares of Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock valued at $190,000 after acquiring an additional 5,478 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $212,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $229,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Legend Biotech in the 3rd quarter valued at approximately $300,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEGN has been the topic of a number of research analyst reports. Redburn Atlantic began coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They issued a "buy" rating and a $86.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $73.00 price objective on shares of Legend Biotech in a report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Piper Sandler restated an "overweight" rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Legend Biotech presently has an average rating of "Buy" and an average target price of $79.50.

Legend Biotech Stock Performance

Legend Biotech stock traded up $0.88 during trading hours on Friday, reaching $38.10. 1,096,978 shares of the stock were exchanged, compared to its average volume of 1,358,179. The stock has a market cap of $6.96 billion, a P/E ratio of -40.10 and a beta of 0.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $70.13. The firm's 50 day moving average is $36.17 and its 200 day moving average is $45.29.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.22. The business had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business's revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. Analysts predict that Legend Biotech Co. will post -1.31 EPS for the current fiscal 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).