Braidwell LP Has $96.90 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Braidwell LP lifted its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 93.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,977,951 shares of the company's stock after buying an additional 1,436,400 shares during the quarter. Legend Biotech makes up about 2.9% of Braidwell LP's holdings, making the stock its 10th largest position. Braidwell LP owned about 1.63% of Legend Biotech worth $96,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Franklin Resources Inc. purchased a new stake in shares of Legend Biotech in the third quarter valued at about $12,837,000. Nordea Investment Management AB raised its position in shares of Legend Biotech by 14.2% during the 4th quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock worth $8,684,000 after purchasing an additional 33,024 shares during the last quarter. Diversified Trust Co lifted its stake in Legend Biotech by 27.6% in the 4th quarter. Diversified Trust Co now owns 45,288 shares of the company's stock valued at $1,474,000 after buying an additional 9,784 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Legend Biotech by 276.5% during the fourth quarter. SG Americas Securities LLC now owns 16,417 shares of the company's stock valued at $534,000 after acquiring an additional 12,057 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after buying an additional 5,478 shares in the last quarter. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada restated an "outperform" rating and issued a $84.00 price target on shares of Legend Biotech in a report on Tuesday, April 22nd. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.82.

Legend Biotech Stock Down 1.4 %

Shares of LEGN stock traded down $0.46 on Friday, hitting $31.58. The stock had a trading volume of 1,137,956 shares, compared to its average volume of 1,253,748. The stock's 50 day moving average is $34.05 and its 200-day moving average is $36.38. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -33.24 and a beta of 0.20. Legend Biotech Co. has a 52-week low of $29.27 and a 52-week high of $60.87. 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 posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating 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 company had revenue of $186.50 million during the quarter, compared to analysts' expectations of $179.00 million. During the same period in the prior year, the company posted ($0.40) EPS. The firm's revenue for the quarter was up 134.6% on a year-over-year basis. As a group, research analysts expect that Legend Biotech Co. will post -1.31 earnings per share for the current year.

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).