Tri Locum Partners LP Buys 26,434 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Tri Locum Partners LP grew its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,704 shares of the company's stock after purchasing an additional 26,434 shares during the period. Legend Biotech accounts for about 2.6% of Tri Locum Partners LP's investment portfolio, making the stock its 18th largest position. Tri Locum Partners LP owned about 0.21% of Legend Biotech worth $12,648,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Decheng Capital LLC grew its stake in shares of Legend Biotech by 41.5% during the 4th quarter. Decheng Capital LLC now owns 153,558 shares of the company's stock valued at $4,997,000 after buying an additional 45,000 shares during the period. Virtus ETF Advisers LLC grew its stake in shares of Legend Biotech by 30.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,852 shares of the company's stock valued at $321,000 after buying an additional 2,310 shares during the period. Rock Springs Capital Management LP grew its stake in shares of Legend Biotech by 0.6% during the 4th quarter. Rock Springs Capital Management LP now owns 512,132 shares of the company's stock valued at $16,665,000 after buying an additional 3,200 shares during the period. Stifel Financial Corp grew its stake in shares of Legend Biotech by 70.4% during the 4th quarter. Stifel Financial Corp now owns 31,365 shares of the company's stock valued at $1,021,000 after buying an additional 12,955 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Legend Biotech by 355.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,480 shares of the company's stock valued at $146,000 after buying an additional 3,496 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Stock Up 1.5 %

Shares of Legend Biotech stock traded up $0.52 during trading on Wednesday, reaching $34.95. The company had a trading volume of 1,088,100 shares, compared to its average volume of 1,232,353. The company has a market cap of $6.42 billion, a price-to-earnings ratio of -36.79 and a beta of 0.21. The firm's fifty day moving average is $34.58 and its 200-day moving average is $36.99. 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 $29.27 and a fifty-two week high of $60.87.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.46. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech's quarterly revenue was up 134.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) earnings per share. On average, analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research note on Wednesday, April 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $84.00 price target on shares of Legend Biotech in a research report on Tuesday, April 22nd. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, Morgan Stanley decreased their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Legend Biotech has an average rating of "Moderate Buy" and an average target price of $78.82.

Legend Biotech Profile

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).