SG Americas Securities LLC Acquires 12,057 Shares of Legend Biotech Co. (NASDAQ:LEGN)

SG Americas Securities LLC grew its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 276.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,417 shares of the company's stock after purchasing an additional 12,057 shares during the quarter. SG Americas Securities LLC's holdings in Legend Biotech were worth $534,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of Legend Biotech by 1.5% during the 2nd quarter. Sei Investments Co. now owns 46,492 shares of the company's stock valued at $2,059,000 after buying an additional 702 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Legend Biotech in the 2nd quarter worth about $2,620,000. Handelsbanken Fonder AB increased its position in shares of Legend Biotech by 7.7% in the third quarter. Handelsbanken Fonder AB now owns 50,500 shares of the company's stock worth $2,461,000 after purchasing an additional 3,600 shares during the last quarter. Diversified Trust Co bought a new position in shares of Legend Biotech in the 3rd quarter worth $1,730,000. Finally, abrdn plc raised its position in Legend Biotech by 110.4% during the third quarter. abrdn plc now owns 33,729 shares of the company's stock valued at $1,628,000 after purchasing an additional 17,696 shares in the last quarter. Institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN traded up $0.53 during trading on Tuesday, reaching $37.84. 2,003,885 shares of the company traded hands, compared to its average volume of 1,377,854. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $70.13. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $36.01 and a 200-day simple moving average of $44.89. The stock has a market capitalization of $6.91 billion, a PE ratio of -39.83 and a beta of 0.17.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. During the same period in the previous year, the company posted ($0.17) EPS. The business's quarterly revenue was up 66.9% compared to the same quarter last year. Equities research analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on LEGN shares. Royal Bank of Canada reissued an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Redburn Atlantic initiated coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a "buy" rating and a $86.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Finally, HC Wainwright reiterated a "buy" rating and set a $73.00 target price on shares of Legend Biotech in a report on Tuesday, January 21st. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Legend Biotech currently has an average rating of "Buy" and a consensus target price of $79.50.

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).