Westfield Capital Management Co. LP lifted its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 21.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,917,567 shares of the company's stock after purchasing an additional 1,203,871 shares during the period. Legend Biotech comprises 1.1% of Westfield Capital Management Co. LP's portfolio, making the stock its 15th largest holding. Westfield Capital Management Co. LP owned approximately 3.77% of Legend Biotech worth $234,713,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Legend Biotech by 145.4% in the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after purchasing an additional 765 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Legend Biotech in the 4th quarter valued at about $56,000. Shell Asset Management Co. lifted its holdings 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. Quadrant Capital Group LLC grew its position in Legend Biotech by 4,296.6% in the fourth 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Legend Biotech by 355.3% during the fourth 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. 70.89% of the stock is owned by hedge funds and other institutional investors.
Legend Biotech Stock Performance
Shares of Legend Biotech stock traded down $0.09 on Friday, reaching $37.35. 562,759 shares of the stock were exchanged, compared to its average volume of 1,485,813. The business has a 50 day moving average price of $37.08 and a two-hundred day moving average price of $35.17. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of -63.34 and a beta of 0.26. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $59.62. The company has a quick ratio of 5.07, a current ratio of 5.20 and a debt-to-equity ratio of 0.30.
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 the consensus estimate of ($0.40) by $0.33. The firm had revenue of $195.05 million during the quarter, compared to analysts' expectations of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The firm's revenue was up 107.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. Analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
LEGN has been the topic of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a research report on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target (up previously from $80.00) on shares of Legend Biotech in a research note on Thursday, July 10th. Cantor Fitzgerald raised Legend Biotech to a "strong-buy" rating in a research report on Monday. Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a research report on Thursday, July 17th. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price objective on shares of Legend Biotech in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $73.33.
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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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