Tema Etfs LLC Takes $370,000 Position in Legend Biotech Co. (NASDAQ:LEGN)

Tema Etfs LLC acquired a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,362 shares of the company's stock, valued at approximately $370,000.

A number of other large investors have also modified their holdings of LEGN. Signaturefd LLC lifted its position in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after buying an additional 1,579 shares during the period. Shell Asset Management Co. raised its stake in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after acquiring an additional 800 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Legend Biotech during the fourth quarter valued at $77,000. Quadrant Capital Group LLC boosted its stake in shares of Legend Biotech by 4,296.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock valued at $124,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted 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 purchasing an additional 3,496 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Trading Up 2.5%

LEGN stock traded up $0.72 during midday trading on Thursday, reaching $29.05. The stock had a trading volume of 1,769,476 shares, compared to its average volume of 1,294,133. 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 company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $32.95 and a two-hundred day simple moving average of $35.53.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $190.83 million. During the same quarter in the previous year, the company earned ($0.16) EPS. Legend Biotech's revenue was up 107.8% on a year-over-year basis. As a group, research analysts expect that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LEGN shares. Royal Bank of Canada reissued an "outperform" rating and set a $84.00 price target on shares of Legend Biotech in a report on Tuesday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a report on Wednesday, May 14th. Morgan Stanley dropped their price target on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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).