Sector Gamma AS grew its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,495 shares of the company's stock after buying an additional 9,733 shares during the period. Sector Gamma AS's holdings in Legend Biotech were worth $1,578,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in LEGN. Avior Wealth Management LLC increased its holdings in Legend Biotech by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 11,097 shares of the company's stock worth $541,000 after buying an additional 323 shares during the period. Bridgewater Associates LP boosted its holdings 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. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock worth $238,000 after acquiring an additional 835 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Legend Biotech by 14.0% during the third quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company's stock worth $332,000 after purchasing an additional 837 shares during the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of Legend Biotech by 19.6% during the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock worth $240,000 after purchasing an additional 1,206 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. HC Wainwright boosted their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Morgan Stanley lowered their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $79.00.
Check Out Our Latest Analysis on LEGN
Legend Biotech Trading Down 3.5 %
Shares of Legend Biotech stock traded down $1.28 during trading hours on Tuesday, hitting $35.05. The company's stock had a trading volume of 1,348,968 shares, compared to its average volume of 1,165,035. The firm has a fifty day moving average of $36.25 and a 200-day moving average of $39.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of -36.89 and a beta of 0.19. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $60.87.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech's revenue was up 134.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) earnings per share. Research analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.
About Legend Biotech
(
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).
See Also
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
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
