Zurcher Kantonalbank Zurich Cantonalbank Sells 9,355 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,913 shares of the company's stock after selling 9,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Legend Biotech were worth $1,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LEGN. OFI Invest Asset Management bought a new stake in shares of Legend Biotech during the 4th quarter valued at $77,000. Quantbot Technologies LP bought a new stake in shares of Legend Biotech during the 3rd quarter valued at $148,000. Blue Trust Inc. raised its position in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock valued at $190,000 after purchasing an additional 5,478 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech during the 3rd quarter valued at $229,000. Finally, Aigen Investment Management LP raised its position in shares of Legend Biotech by 19.6% during the 4th quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock valued at $240,000 after purchasing an additional 1,206 shares during the period. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN traded down $0.77 on Friday, reaching $36.95. The company's stock had a trading volume of 1,432,612 shares, compared to its average volume of 1,163,716. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $60.87. The company has a market cap of $6.79 billion, a P/E ratio of -38.89 and a beta of 0.19. The company has a 50-day simple moving average of $36.11 and a 200 day simple moving average of $40.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $186.50 million during the quarter, compared to analysts' expectations of $179.00 million. During the same period in the previous year, the company earned ($0.40) EPS. The firm's revenue for the quarter was up 134.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley cut their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. HC Wainwright raised their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Legend Biotech has an average rating of "Moderate Buy" and a consensus target price of $79.00.

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).