Schroder Investment Management Group Boosts Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Schroder Investment Management Group increased its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 74.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,508 shares of the company's stock after acquiring an additional 83,191 shares during the quarter. Schroder Investment Management Group owned about 0.11% of Legend Biotech worth $6,374,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after buying an additional 1,579 shares during the period. OFI Invest Asset Management acquired a new position in shares of Legend Biotech in the 4th quarter valued at about $77,000. Quantbot Technologies LP bought a new stake in shares of Legend Biotech during the 3rd quarter valued at about $148,000. Public Employees Retirement System of Ohio bought a new stake in Legend Biotech in the third quarter worth approximately $229,000. Finally, Blue Trust Inc. increased its holdings in Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after purchasing an additional 5,478 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LEGN has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a report on Tuesday. Piper Sandler restated an "overweight" rating and set a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Finally, Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.00.

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Legend Biotech Stock Performance

Shares of Legend Biotech stock traded up $1.31 during trading hours on Wednesday, hitting $32.08. 1,535,356 shares of the company's stock traded hands, compared to its average volume of 1,213,480. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87. The company has a fifty day simple moving average of $35.56 and a 200-day simple moving average of $38.42. 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 stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -33.77 and a beta of 0.21.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 EPS 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 company had revenue of $186.50 million for the quarter, compared to analysts' expectations of $179.00 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. Legend Biotech's revenue was up 134.6% on a year-over-year basis. Equities research analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

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).