Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,847 shares of the company's stock, valued at approximately $776,000.
Other large investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in Legend Biotech by 1,052.7% in 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 last quarter. GF Fund Management CO. LTD. purchased a new stake in Legend Biotech in the fourth quarter valued at approximately $56,000. Shell Asset Management Co. boosted its position in Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after buying an additional 800 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Legend Biotech in the fourth quarter valued at approximately $77,000. Finally, Quadrant Capital Group LLC boosted its position in Legend Biotech by 4,296.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company's stock worth $124,000 after purchasing an additional 3,738 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on LEGN shares. Morgan Stanley lowered their price objective on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Cantor Fitzgerald restated 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 restated a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. 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. Finally, Truist Financial lowered their price objective on Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.20.
Get Our Latest Analysis on LEGN
Legend Biotech Price Performance
Shares of LEGN stock traded up $3.52 during trading hours on Friday, hitting $35.00. 4,196,082 shares of the company's stock were exchanged, compared to its average volume of 1,308,950. The firm has a 50 day moving average of $31.47 and a two-hundred day moving average of $34.65. 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 quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.43 billion, a P/E ratio of -36.84 and a beta of 0.13.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. During the same period last year, the company earned ($0.16) EPS. The company's revenue for the quarter was up 107.8% on a year-over-year basis. Sell-side analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current 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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