Twinbeech Capital LP lifted its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 132.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,168 shares of the company's stock after acquiring an additional 41,710 shares during the period. Twinbeech Capital LP's holdings in Legend Biotech were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Exane Asset Management acquired a new stake in shares of Legend Biotech in the 4th quarter worth approximately $2,284,000. Matthews International Capital Management LLC lifted its stake in shares of Legend Biotech by 14.9% in the 4th quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock worth $38,577,000 after acquiring an additional 153,665 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Legend Biotech by 26.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company's stock worth $360,000 after acquiring an additional 2,297 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Legend Biotech by 196.1% in the 4th quarter. New York State Common Retirement Fund now owns 59,276 shares of the company's stock worth $1,929,000 after acquiring an additional 39,256 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after acquiring an additional 5,478 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.
Legend Biotech Trading Down 1.7%
Shares of NASDAQ:LEGN traded down $0.49 during mid-day trading on Tuesday, hitting $28.42. The stock had a trading volume of 582,802 shares, compared to its average volume of 1,288,169. The company's 50 day moving average is $32.41 and its 200-day moving average is $35.16. Legend Biotech Co. has a 12-month low of $27.34 and a 12-month 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. The company has a market cap of $5.22 billion, a PE ratio of -29.86 and a beta of 0.20.
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, topping 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 firm had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million. During the same quarter last year, the business posted ($0.16) EPS. The company's revenue was up 107.8% on a year-over-year basis. On average, sell-side analysts predict that Legend Biotech Co. will post -1.31 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on LEGN shares. 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 note on Monday, March 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Legend Biotech in a research note on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a research note on Wednesday, April 16th. Truist Financial cut their target price on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.20.
View 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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