XTX Topco Ltd Invests $1.84 Million in Legend Biotech Co. (NASDAQ:LEGN)

XTX Topco Ltd purchased a new position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 37,769 shares of the company's stock, valued at approximately $1,840,000.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its position in shares of Legend Biotech by 0.4% during the 3rd quarter. State Street Corp now owns 1,140,222 shares of the company's stock valued at $55,563,000 after buying an additional 4,735 shares in the last quarter. Polymer Capital Management HK LTD lifted its stake in Legend Biotech by 39.4% in the third quarter. Polymer Capital Management HK LTD now owns 41,827 shares of the company's stock worth $2,038,000 after purchasing an additional 11,827 shares during the last quarter. Harvest Management LLC purchased a new stake in Legend Biotech during the 3rd quarter valued at about $526,000. Point72 Europe London LLP grew its holdings in shares of Legend Biotech by 261.4% in the third quarter. Point72 Europe London LLP now owns 80,400 shares of the company's stock worth $3,918,000 after purchasing an additional 58,155 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in shares of Legend Biotech in the third quarter valued at about $6,091,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Legend Biotech Stock Down 0.3 %

Shares of NASDAQ:LEGN traded down $0.12 during trading on Friday, reaching $41.54. 1,318,303 shares of the stock traded hands, compared to its average volume of 1,497,611. The stock has a market cap of $7.62 billion, a P/E ratio of -43.73 and a beta of 0.08. 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 stock has a 50-day moving average of $43.80 and a two-hundred day moving average of $47.94. Legend Biotech Co. has a 52-week low of $36.92 and a 52-week high of $70.13.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.22. The business had revenue of $160.20 million for the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company's revenue was up 66.9% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS. As a group, sell-side analysts expect that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LEGN shares. 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 target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 target price on shares of Legend Biotech in a research report on Tuesday, October 29th. Scotiabank boosted their price target on shares of Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a research report on Monday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $73.00 price objective on shares of Legend Biotech in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $81.46.

About Legend Biotech

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).