Wellington Management Group LLP boosted its position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,120,775 shares of the company's stock after acquiring an additional 84,405 shares during the quarter. Wellington Management Group LLP owned 1.15% of Legend Biotech worth $69,010,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its holdings 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 acquiring an additional 800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock valued at $238,000 after acquiring an additional 835 shares during the last quarter. Aigen Investment Management LP boosted its holdings in Legend Biotech by 19.6% in the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock valued at $240,000 after acquiring an additional 1,206 shares during the last quarter. Rhumbline Advisers boosted its holdings in Legend Biotech by 5.9% in the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock valued at $899,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings 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 acquiring an additional 1,579 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.
Legend Biotech Stock Up 1.3%
Shares of NASDAQ LEGN traded up $0.37 during midday trading on Monday, reaching $29.32. 1,436,643 shares of the company's stock were exchanged, compared to its average volume of 1,292,716. Legend Biotech Co. has a 52-week low of $27.34 and a 52-week high of $60.87. The stock has a market capitalization of $5.39 billion, a PE ratio of -30.86 and a beta of 0.20. 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 business's fifty day moving average price is $31.68 and its two-hundred day moving average price is $34.79.
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 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 for the quarter, compared to analyst estimates of $190.83 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The company's revenue for the quarter was up 107.8% compared to the same quarter last year. Analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.
Wall Street Analyst Weigh In
LEGN has been the topic of a number of research analyst reports. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. Morgan Stanley reduced their price objective 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. Royal Bank of Canada restated an "outperform" rating and set a $84.00 price objective on shares of Legend Biotech in a research note on Tuesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 price objective on shares of Legend Biotech in a research note on Wednesday, May 14th. Finally, Truist Financial reduced their price objective 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 equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $76.20.
Read Our Latest Research Report 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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