Diversified Trust Co Invests $1.73 Million in Legend Biotech Co. (NASDAQ:LEGN)

Diversified Trust Co bought a new stake in Legend Biotech Co. (NASDAQ:LEGN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 35,504 shares of the company’s stock, valued at approximately $1,730,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Legend Biotech by 71.6% in the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after buying an additional 962,381 shares during the last quarter. RA Capital Management L.P. boosted its stake in Legend Biotech by 9.5% during the 1st quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock worth $384,839,000 after purchasing an additional 596,390 shares during the period. Altitude Crest Partners Inc. purchased a new position in Legend Biotech during the 4th quarter worth $32,601,000. Westfield Capital Management Co. LP increased its stake in Legend Biotech by 26.1% in the first quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock valued at $125,629,000 after purchasing an additional 463,527 shares during the period. Finally, Capital International Investors raised its holdings in shares of Legend Biotech by 19.5% in the first quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock valued at $122,336,000 after buying an additional 356,387 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Down 3.1 %

Shares of NASDAQ LEGN opened at $48.06 on Wednesday. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $52.99 and a 200 day moving average price of $49.88. Legend Biotech Co. has a 52 week low of $38.60 and a 52 week high of $70.78. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of -36.97 and a beta of 0.10.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The company’s revenue for the quarter was up 154.4% on a year-over-year basis. During the same period last year, the firm earned ($0.27) EPS. Equities research analysts anticipate that Legend Biotech Co. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LEGN. HC Wainwright reissued a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a report on Monday, September 30th. TD Cowen dropped their target price on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 15th. BMO Capital Markets restated an “outperform” rating and set a $90.00 price target on shares of Legend Biotech in a research note on Wednesday, July 3rd. Truist Financial assumed coverage on shares of Legend Biotech in a research report on Monday, June 17th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, Scotiabank upped their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 12th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Legend Biotech currently has an average rating of “Buy” and an average price target of $82.08.

Legend Biotech Company 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).