Legend Biotech Co. (NASDAQ:LEGN) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its holdings in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 74.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the company's stock after selling 9,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Legend Biotech were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Legend Biotech by 4.0% in the third quarter. FMR LLC now owns 18,330,219 shares of the company's stock valued at $893,232,000 after purchasing an additional 708,620 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Legend Biotech by 5.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company's stock worth $245,526,000 after acquiring an additional 266,296 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Legend Biotech by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company's stock worth $110,868,000 after acquiring an additional 314,449 shares during the period. Matthews International Capital Management LLC increased its stake in Legend Biotech by 14.9% in the 4th 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 in the last quarter. Finally, State Street Corp raised its holdings in Legend Biotech by 0.4% during the third quarter. State Street Corp now owns 1,140,222 shares of the company's stock worth $55,563,000 after purchasing an additional 4,735 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

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Wall Street Analyst Weigh In

LEGN has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Cantor Fitzgerald restated an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, HC Wainwright lifted their price objective on Legend Biotech from $73.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.00.

Legend Biotech Trading Down 2.0 %

Shares of LEGN stock traded down $0.77 during mid-day trading on Friday, hitting $36.95. 1,432,612 shares of the company's stock were exchanged, compared to its average volume of 1,163,716. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -38.89 and a beta of 0.19. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a fifty-two week low of $30.17 and a fifty-two week high of $60.87. The stock has a 50-day simple moving average of $36.11 and a two-hundred day simple moving average of $40.29.

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 the consensus estimate of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. 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 business posted ($0.40) earnings per share. The firm's revenue for the quarter was up 134.6% compared to the same quarter last year. Equities analysts expect that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

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).