ArrowMark Colorado Holdings LLC Increases Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

ArrowMark Colorado Holdings LLC increased its stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 23.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,177,540 shares of the company's stock after purchasing an additional 223,975 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.64% of Legend Biotech worth $38,317,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after purchasing an additional 1,579 shares during the last quarter. OFI Invest Asset Management bought a new stake in Legend Biotech during the fourth quarter worth $77,000. Quadrant Capital Group LLC raised its position in Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock worth $124,000 after acquiring an additional 3,738 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Legend Biotech by 355.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $146,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Blue Trust Inc. increased its stake 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 worth $190,000 after purchasing an additional 5,478 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

Legend Biotech Trading Down 5.9 %

NASDAQ:LEGN traded down $1.96 during mid-day trading on Tuesday, hitting $31.44. 2,261,781 shares of the company's stock were exchanged, compared to its average volume of 1,243,055. The company has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $36.62. The firm has a market capitalization of $5.77 billion, a P/E ratio of -33.09 and a beta of 0.20. Legend Biotech Co. has a fifty-two week low of $29.27 and a fifty-two week high of $60.87. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

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

Wall Street Analyst Weigh In

A number of research firms have commented on LEGN. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley dropped their target price 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 reaffirmed a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $84.00 price objective on shares of Legend Biotech in a research note on Tuesday, April 22nd. One 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.82.

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).