Mirae Asset Global Investments Co. Ltd. Sells 13,850 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 48.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,699 shares of the company's stock after selling 13,850 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Legend Biotech were worth $479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its stake in Legend Biotech by 3.0% during the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company's stock worth $541,000 after purchasing an additional 323 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Legend Biotech by 0.3% in the 3rd quarter. Bridgewater Associates LP now owns 165,975 shares of the company's stock valued at $8,088,000 after acquiring an additional 516 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Legend Biotech by 14.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company's stock valued at $332,000 after acquiring an additional 837 shares during the last quarter. National Pension Service lifted its stake in shares of Legend Biotech by 4.3% in the 3rd quarter. National Pension Service now owns 23,535 shares of the company's stock valued at $1,147,000 after acquiring an additional 961 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Legend Biotech by 10.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company's stock valued at $564,000 after acquiring an additional 1,609 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Legend Biotech Trading Up 0.1 %

Legend Biotech stock traded up $0.03 during trading hours on Friday, reaching $36.42. 839,820 shares of the company's stock were exchanged, compared to its average volume of 1,387,403. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The firm's 50 day simple moving average is $34.86 and its 200 day simple moving average is $43.50. The firm has a market capitalization of $6.65 billion, a PE ratio of -38.34 and a beta of 0.18. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $70.13.

About Legend Biotech

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).