TimesSquare Capital Management LLC reduced its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,159,430 shares of the company's stock after selling 14,336 shares during the period. TimesSquare Capital Management LLC owned about 0.64% of Legend Biotech worth $56,499,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company's stock worth $36,000 after acquiring an additional 806 shares in the last quarter. American International Group Inc. raised its holdings in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company's stock worth $50,000 after buying an additional 300 shares in the last quarter. AM Squared Ltd bought a new stake in shares of Legend Biotech during the 2nd quarter worth $71,000. California State Teachers Retirement System boosted its stake in 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 Legend Biotech during the first quarter worth about $203,000. Institutional investors own 70.89% of the company's stock.
Legend Biotech Trading Down 2.2 %
Shares of NASDAQ:LEGN traded down $0.92 during midday trading on Friday, reaching $40.03. The company's stock had a trading volume of 2,584,155 shares, compared to its average volume of 1,628,335. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -51.32 and a beta of 0.11. The firm has a 50 day moving average price of $47.55 and a two-hundred day moving average price of $48.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. Legend Biotech Co. has a fifty-two week low of $38.60 and a fifty-two week high of $70.13.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.49. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The company's quarterly revenue was up 154.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.27) EPS. As a group, analysts forecast that Legend Biotech Co. will post -1.48 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on LEGN. Royal Bank of Canada reaffirmed an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. TD Cowen cut their price objective on Legend Biotech from $71.00 to $67.00 and set a "buy" rating on the stock in a report on Monday, July 15th. Scotiabank boosted their price objective on Legend Biotech from $70.00 to $76.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 12th. HC Wainwright reiterated a "buy" rating and issued a $73.00 target price on shares of Legend Biotech in a research report on Wednesday, October 16th. Finally, Redburn Atlantic assumed coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a "buy" rating and a $86.00 price objective for the company. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $81.46.
Get Our Latest Research Report on LEGN
Legend Biotech Profile
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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).
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