Polar Asset Management Partners Inc. increased its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 65.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,638 shares of the company's stock after buying an additional 9,779 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Legend Biotech were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of LEGN. SG Americas Securities LLC lifted its position in Legend Biotech by 276.5% in the 4th quarter. SG Americas Securities LLC now owns 16,417 shares of the company's stock worth $534,000 after buying an additional 12,057 shares during the last quarter. Blue Trust Inc. lifted its position in 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 buying 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 4th quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock worth $38,577,000 after buying 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 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company's stock worth $564,000 after buying an additional 1,609 shares during the last quarter. Finally, Exane Asset Management bought a new stake in Legend Biotech in the fourth quarter valued at approximately $2,284,000. Institutional investors own 70.89% of the company's stock.
Wall Street Analyst Weigh In
LEGN has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 price objective on shares of Legend Biotech in a research report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. Morgan Stanley lowered their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $84.00 price objective on shares of Legend Biotech in a research report on Tuesday, April 22nd. Finally, Truist Financial reduced their target price on Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.20.
Check Out Our Latest Stock Analysis on LEGN
Legend Biotech Trading Down 0.8%
Shares of LEGN traded down $0.22 during mid-day trading on Friday, hitting $28.75. 2,148,627 shares of the company's stock traded hands, compared to its average volume of 1,292,136. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a 1 year low of $27.34 and a 1 year high of $60.87. The firm has a market capitalization of $5.28 billion, a P/E ratio of -30.26 and a beta of 0.20. The business's 50-day moving average price is $31.79 and its 200-day moving average price is $34.85.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. The company 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 29.69% and a negative net margin of 66.92%. The firm's revenue for the quarter was up 107.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, sell-side analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.
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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