Quantbot Technologies LP boosted its holdings in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 280.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,532 shares of the company's stock after purchasing an additional 8,500 shares during the period. Quantbot Technologies LP's holdings in Legend Biotech were worth $375,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. 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 in the third quarter worth approximately $12,837,000. Finally, Geode Capital Management LLC increased its stake in shares of Legend Biotech by 3.6% in the third quarter. Geode Capital Management LLC now owns 494,864 shares of the company's stock worth $23,933,000 after buying an additional 17,337 shares during the period. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reiterated an "overweight" rating and set a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, Morgan Stanley cut their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Legend Biotech has an average rating of "Moderate Buy" and an average target price of $79.00.
View Our Latest Research Report on Legend Biotech
Legend Biotech Stock Up 5.5 %
LEGN stock traded up $1.72 during midday trading on Wednesday, hitting $33.24. The stock had a trading volume of 2,079,823 shares, compared to its average volume of 1,204,266. The business has a 50-day moving average of $36.32 and a two-hundred day moving average of $39.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -34.99 and a beta of 0.19. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $60.87.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $179.00 million. During the same period in the prior year, the firm earned ($0.40) EPS. The company's revenue was up 134.6% compared to the same quarter last year. As a group, equities research analysts forecast that Legend Biotech Co. will post -1.31 earnings per share for the current fiscal year.
Legend Biotech Company Profile
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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).
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