NINE MASTS CAPITAL Ltd Reduces Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

NINE MASTS CAPITAL Ltd lowered its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,466 shares of the company's stock after selling 16,043 shares during the quarter. NINE MASTS CAPITAL Ltd's holdings in Legend Biotech were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Exane Asset Management bought a new stake in shares of Legend Biotech in the 4th quarter valued at about $2,284,000. Matthews International Capital Management LLC lifted its position in Legend Biotech by 14.9% in the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock valued at $38,577,000 after purchasing an additional 153,665 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Legend Biotech by 14.2% during the fourth quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock valued at $8,684,000 after purchasing an additional 33,024 shares during the period. Franklin Resources Inc. bought a new position in shares of Legend Biotech during the third quarter valued at about $12,837,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Legend Biotech by 5.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company's stock worth $245,526,000 after buying an additional 266,296 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

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

Legend Biotech Stock Performance

Shares of LEGN traded down $0.52 during mid-day trading on Thursday, hitting $34.18. 1,296,072 shares of the company traded hands, compared to its average volume of 1,176,328. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -35.98 and a beta of 0.19. The stock has a 50-day moving average price of $35.27 and a two-hundred day moving average price of $41.87. Legend Biotech Co. has a 1 year low of $30.17 and a 1 year high of $69.24. 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 Company 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).