Wellington Management Group LLP increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,120,775 shares of the company's stock after acquiring an additional 84,405 shares during the period. Wellington Management Group LLP owned approximately 1.16% of Legend Biotech worth $69,010,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LEGN. Connor Clark & Lunn Investment Management Ltd. increased its stake in Legend Biotech by 12.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock worth $238,000 after purchasing an additional 835 shares in the last quarter. Aigen Investment Management LP boosted its position in Legend Biotech by 19.6% during the 4th quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock worth $240,000 after acquiring an additional 1,206 shares during the period. Rhumbline Advisers lifted its holdings in shares of Legend Biotech by 5.9% during the 4th quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock valued at $899,000 after buying an additional 1,544 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after buying an additional 1,579 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Legend Biotech by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company's stock valued at $564,000 after buying an additional 1,609 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price target on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a report on Tuesday. Piper Sandler reiterated an "overweight" rating and set a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Finally, Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Legend Biotech presently has an average rating of "Moderate Buy" and an average target price of $79.00.
Check Out Our Latest Report on Legend Biotech
Legend Biotech Price Performance
Legend Biotech stock traded down $0.90 on Thursday, reaching $31.19. The company's stock had a trading volume of 155,547 shares, compared to its average volume of 1,209,347. 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 company has a market cap of $5.73 billion, a price-to-earnings ratio of -32.83 and a beta of 0.21. The business's fifty day moving average price is $35.56 and its 200 day moving average price is $38.42. Legend Biotech Co. has a twelve month low of $29.27 and a twelve month high of $60.87.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same quarter in the prior year, the firm 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 earnings per share for the current fiscal year.
About Legend Biotech
(
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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