Squarepoint Ops LLC Has $4.16 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Squarepoint Ops LLC increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,900 shares of the company's stock after acquiring an additional 39,197 shares during the period. Squarepoint Ops LLC owned approximately 0.07% of Legend Biotech worth $4,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of 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 acquiring an additional 1,579 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Legend Biotech by 62.0% during the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after purchasing an additional 800 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Legend Biotech during the 4th quarter worth about $77,000. Quadrant Capital Group LLC lifted its holdings in shares of Legend Biotech by 4,296.6% during the 4th 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 during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Legend Biotech by 355.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $146,000 after buying an additional 3,496 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. Truist Financial decreased their price objective on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Guggenheim restated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Legend Biotech in a research report on Wednesday, May 14th. Finally, HC Wainwright reissued a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.20.

Legend Biotech Trading Down 0.8%

NASDAQ LEGN traded down $0.22 on Friday, reaching $28.75. The company had a trading volume of 2,148,627 shares, compared to its average volume of 1,292,136. Legend Biotech Co. has a fifty-two week low of $27.34 and a fifty-two week high of $60.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of -30.26 and a beta of 0.20. The business has a 50 day moving average of $31.79 and a two-hundred day moving average of $34.88.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.33. The business had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company's revenue for the quarter was up 107.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Analysts forecast 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).