Legend Biotech Co. (NASDAQ:LEGN) Stock Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 9.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 177,227 shares of the company's stock after buying an additional 14,672 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Legend Biotech worth $8,636,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company's stock valued at $36,000 after buying an additional 806 shares in the last quarter. American International Group Inc. boosted its position in Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company's stock worth $50,000 after purchasing an additional 300 shares in the last quarter. AM Squared Ltd acquired a new stake in Legend Biotech in the second quarter valued at $71,000. California State Teachers Retirement System increased its position in shares of Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock valued at $188,000 after buying an additional 2,216 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Legend Biotech during the 1st quarter worth $203,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Stock Down 2.0 %

LEGN stock traded down $0.77 during trading on Monday, reaching $37.42. The stock had a trading volume of 1,617,337 shares, compared to its average volume of 1,102,524. Legend Biotech Co. has a 1-year low of $37.40 and a 1-year high of $70.13. The company has a market capitalization of $6.82 billion, a P/E ratio of -39.39 and a beta of 0.11. The company has a current ratio of 4.98, a quick ratio of 4.78 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $45.75 and a 200 day moving average price of $48.24.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.22. The company had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm's revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. On average, equities analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current year.

Analyst Ratings Changes

LEGN has been the subject of a number of recent research reports. Scotiabank upped their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a report on Monday, August 12th. HC Wainwright reissued a "buy" rating and set a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price objective on shares of Legend Biotech in a research report on Tuesday, October 29th. Finally, Redburn Atlantic assumed coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a "buy" rating and a $86.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Legend Biotech has a consensus rating of "Buy" and a consensus target price of $81.46.

Legend Biotech Company 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).