Alyeska Investment Group L.P. Makes New $8.14 Million Investment in Legend Biotech Co. (NASDAQ:LEGN)

Alyeska Investment Group L.P. purchased a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 250,000 shares of the company's stock, valued at approximately $8,135,000. Alyeska Investment Group L.P. owned 0.14% of Legend Biotech as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Exane Asset Management purchased a new stake in Legend Biotech during the fourth quarter valued at $2,284,000. Matthews International Capital Management LLC lifted its holdings in shares of Legend Biotech by 14.9% in the 4th quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock valued at $38,577,000 after acquiring an additional 153,665 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Legend Biotech by 14.2% in the 4th quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock valued at $8,684,000 after acquiring an additional 33,024 shares during the last quarter. Franklin Resources Inc. purchased a new position in Legend Biotech in the third quarter worth about $12,837,000. Finally, Asset Management One Co. Ltd. increased its stake in Legend Biotech by 26.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company's stock worth $360,000 after acquiring an additional 2,297 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEGN. Royal Bank of Canada reissued an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a research report on Tuesday, April 22nd. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley dropped their price target 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. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.82.

Legend Biotech Trading Down 1.4 %

LEGN traded down $0.46 during trading on Friday, hitting $31.58. 1,137,956 shares of the stock were exchanged, compared to its average volume of 1,255,218. Legend Biotech Co. has a 1 year low of $29.27 and a 1 year high of $60.87. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -33.24 and a beta of 0.20. The firm has a 50 day simple moving average of $34.05 and a 200 day simple moving average of $36.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

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

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).