Two Sigma Investments LP Acquires 581,952 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Two Sigma Investments LP increased its holdings in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 961.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 642,452 shares of the company's stock after purchasing an additional 581,952 shares during the period. Two Sigma Investments LP owned approximately 0.35% of Legend Biotech worth $20,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LEGN. Signaturefd LLC boosted its position in Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after buying an additional 1,579 shares during the period. Shell Asset Management Co. lifted its stake in shares of Legend Biotech by 62.0% in the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after acquiring an additional 800 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Legend Biotech during the 4th quarter valued at about $77,000. Quadrant Capital Group LLC grew its position in Legend Biotech by 4,296.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock worth $124,000 after acquiring an additional 3,738 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Legend Biotech by 355.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock worth $146,000 after acquiring an additional 3,496 shares during the last quarter. Institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Performance

Shares of LEGN opened at $28.33 on Thursday. The company has a 50-day simple moving average of $32.95 and a two-hundred day simple moving average of $35.53. 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 capitalization of $5.20 billion, a PE ratio of -29.82 and a beta of 0.20. Legend Biotech Co. has a one year low of $27.34 and a one year high of $60.87.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million. During the same quarter in the prior year, the company earned ($0.16) EPS. The business's revenue was up 107.8% compared to the same quarter last year. On average, 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 analyst reports. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Legend Biotech in a report on Wednesday, May 14th. Royal Bank of Canada restated an "outperform" rating and issued a $84.00 price objective on shares of Legend Biotech in a research report on Tuesday, April 22nd. HC Wainwright reiterated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a report on Wednesday, April 16th. Finally, Morgan Stanley cut their target price on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $74.73.

About Legend Biotech

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.