NEOS Investment Management LLC cut its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,362 shares of the company's stock after selling 12,537 shares during the period. NEOS Investment Management LLC's holdings in Legend Biotech were worth $370,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of 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 purchasing an additional 1,579 shares in the last quarter. OFI Invest Asset Management bought a new position in Legend Biotech in the fourth quarter valued at about $77,000. Quantbot Technologies LP acquired a new stake in Legend Biotech in the third quarter worth about $148,000. Public Employees Retirement System of Ohio acquired a new position in Legend Biotech during the 3rd quarter valued at about $229,000. Finally, Blue Trust Inc. boosted its stake in Legend Biotech by 1,513.3% in the fourth 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 last quarter. Institutional investors own 70.89% of the company's stock.
Wall Street Analysts Forecast Growth
LEGN has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on 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 set a $78.00 target price on shares of Legend Biotech in a research note on Monday, December 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright lifted their price target on Legend Biotech from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $86.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Legend Biotech currently has an average rating of "Moderate Buy" and an average price target of $79.00.
Get Our Latest Stock Report on LEGN
Legend Biotech Stock Performance
Shares of Legend Biotech stock traded down $0.87 during trading on Friday, hitting $32.01. 1,528,662 shares of the stock were exchanged, compared to its average volume of 1,210,987. 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 has a fifty day moving average price of $36.12 and a 200-day moving average price of $38.96. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -33.69 and a beta of 0.21. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $60.87.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to analysts' expectations of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business's revenue was up 134.6% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. As a group, equities analysts predict that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.
Legend Biotech Profile
(
Free Report)
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).
Further Reading
Before you consider Legend Biotech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list.
While Legend Biotech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
