Sei Investments Co. Boosts Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Sei Investments Co. increased its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,855 shares of the company's stock after buying an additional 15,058 shares during the quarter. Sei Investments Co.'s holdings in Legend Biotech were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC grew its stake in shares of Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after acquiring an additional 1,579 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Legend Biotech in the 4th quarter worth approximately $77,000. Blue Trust Inc. grew its position in Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after purchasing an additional 5,478 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Legend Biotech during the 3rd quarter valued at approximately $229,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 buying an additional 835 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

NASDAQ LEGN traded down $0.80 during mid-day trading on Thursday, reaching $31.28. 1,115,082 shares of the stock were exchanged, compared to its average volume of 1,215,727. The company has a market capitalization of $5.74 billion, a P/E ratio of -32.93 and a beta of 0.21. 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 business's 50 day moving average is $35.44 and its 200-day moving average is $38.32. Legend Biotech Co. has a 1 year low of $29.27 and a 1 year high of $60.87.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same period in the prior year, the company posted ($0.40) EPS. The company's revenue for the quarter was up 134.6% on a year-over-year basis. On average, equities research analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LEGN shares. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Piper Sandler reiterated an "overweight" rating and set a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. HC Wainwright restated a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research note on Tuesday. Finally, Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, March 17th. One research 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 presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Legend Biotech 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).