Readystate Asset Management LP bought a new stake in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 177,369 shares of the company's stock, valued at approximately $6,018,000. Readystate Asset Management LP owned 0.10% of Legend Biotech as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after purchasing an additional 765 shares during the period. GF Fund Management CO. LTD. acquired a new position in Legend Biotech during the fourth quarter worth $56,000. Signaturefd LLC lifted its stake in Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after purchasing an additional 1,579 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after buying an additional 800 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Legend Biotech by 4,296.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock valued at $124,000 after buying an additional 3,738 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.
Legend Biotech Stock Down 1.9%
Shares of NASDAQ LEGN traded down $0.85 during mid-day trading on Friday, hitting $43.36. The company had a trading volume of 996,603 shares, compared to its average volume of 1,402,195. The company has a market capitalization of $7.97 billion, a PE ratio of -73.49 and a beta of 0.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. Legend Biotech Corporation Sponsored ADR has a 1-year low of $27.34 and a 1-year high of $59.62. The business's 50-day simple moving average is $35.24 and its 200 day simple moving average is $34.76.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $195.05 million for the quarter, compared to analysts' expectations of $190.83 million. Legend Biotech had a negative return on equity of 21.19% and a negative net margin of 29.95%. The company's revenue for the quarter was up 107.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. On average, analysts predict that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on LEGN. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research note on Thursday, July 17th. UBS Group set a $54.00 price objective on Legend Biotech and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $84.00 price objective on shares of Legend Biotech in a research note on Tuesday, April 22nd. Johnson Rice reaffirmed a "buy" rating on shares of Legend Biotech in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Legend Biotech in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Legend Biotech presently has a consensus rating of "Moderate Buy" and an average target price of $73.33.
Read Our Latest Stock Analysis on LEGN
About Legend Biotech
(
Free Report)
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).
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