Woodline Partners LP boosted its stake in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,304 shares of the company's stock after purchasing an additional 10,909 shares during the period. Woodline Partners LP owned about 0.07% of Legend Biotech worth $3,915,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew 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 purchasing an additional 1,579 shares in the last quarter. Shell Asset Management Co. grew its position in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after purchasing an additional 800 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Legend Biotech in the fourth quarter valued at approximately $77,000. Quadrant Capital Group LLC lifted its stake 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 valued at $124,000 after acquiring an additional 3,738 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Legend Biotech by 355.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $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.
Wall Street Analyst Weigh In
LEGN has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a research note on Wednesday, May 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of Legend Biotech in a research note on Wednesday, April 16th. Morgan Stanley reduced their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Finally, Truist Financial reduced their target price on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.20.
Read Our Latest Report on LEGN
Legend Biotech Stock Performance
Shares of Legend Biotech stock traded down $0.32 on Friday, reaching $28.66. The stock had a trading volume of 165,136 shares, compared to its average volume of 1,291,038. The business's 50-day moving average price is $31.91 and its two-hundred day moving average price is $34.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. Legend Biotech Co. has a fifty-two week low of $27.34 and a fifty-two week high of $60.87. The stock has a market cap of $5.27 billion, a P/E ratio of -30.04 and a beta of 0.20.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $195.05 million during the quarter, compared to analysts' expectations of $190.83 million. During the same period in the previous year, the company earned ($0.16) earnings per share. Legend Biotech's revenue for the quarter was up 107.8% on a year-over-year basis. On average, sell-side analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.
Legend Biotech Company Profile
(
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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