Deutsche Bank AG Increases Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Deutsche Bank AG lifted its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,067 shares of the company's stock after purchasing an additional 14,198 shares during the period. Deutsche Bank AG owned about 0.07% of Legend Biotech worth $4,395,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LEGN. SG Americas Securities LLC lifted its position in shares of Legend Biotech by 276.5% during the 4th quarter. SG Americas Securities LLC now owns 16,417 shares of the company's stock worth $534,000 after purchasing an additional 12,057 shares during the last quarter. Blue Trust Inc. lifted 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 worth $190,000 after purchasing an additional 5,478 shares during the last quarter. Matthews International Capital Management LLC lifted its position in Legend Biotech by 14.9% in the fourth 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. China Universal Asset Management Co. Ltd. lifted its position in Legend Biotech by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company's stock valued at $564,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Exane Asset Management purchased a new stake in Legend Biotech in the fourth quarter valued at $2,284,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Stock Performance

NASDAQ LEGN traded up $0.72 during trading on Thursday, reaching $29.05. The company's stock had a trading volume of 1,769,476 shares, compared to its average volume of 1,295,891. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -30.58 and a beta of 0.20. Legend Biotech Co. has a twelve month low of $27.34 and a twelve month high of $60.87. The business's fifty day moving average price is $32.95 and its 200-day moving average price is $35.53.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $195.05 million for the quarter, compared to analyst estimates of $190.83 million. During the same period in the previous year, the business posted ($0.16) earnings per share. Legend Biotech's quarterly revenue was up 107.8% on a year-over-year basis. As a group, analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

LEGN has been the subject of a number of research reports. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Morgan Stanley reduced 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 report on Monday, March 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Legend Biotech in a research report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $84.00 price target on shares of Legend Biotech in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.73.

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).