SG Americas Securities LLC Purchases New Stake in Legend Biotech Co. (NASDAQ:LEGN)

SG Americas Securities LLC purchased a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,360 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Legend Biotech by 4.5% during the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after buying an additional 293 shares during the last quarter. American International Group Inc. increased its position in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares during the period. Public Sector Pension Investment Board increased its position in Legend Biotech by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock valued at $1,093,000 after purchasing an additional 400 shares during the period. ProShare Advisors LLC increased its position in Legend Biotech by 9.7% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after purchasing an additional 494 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Legend Biotech by 9.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company’s stock valued at $356,000 after purchasing an additional 527 shares during the period. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Stock Up 3.6 %

NASDAQ:LEGN opened at $45.04 on Wednesday. The firm has a market cap of $8.21 billion, a P/E ratio of -34.64 and a beta of 0.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. Legend Biotech Co. has a fifty-two week low of $38.60 and a fifty-two week high of $70.13. The firm has a 50-day simple moving average of $50.94 and a two-hundred day simple moving average of $49.11.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to analyst estimates of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. Legend Biotech’s revenue was up 154.4% compared to the same quarter last year. During the same period last year, the business earned ($0.27) EPS. Analysts predict that Legend Biotech Co. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEGN. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research report on Friday, September 27th. Scotiabank boosted their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Monday, August 12th. BMO Capital Markets reissued an “outperform” rating and set a $90.00 price objective on shares of Legend Biotech in a research report on Wednesday, July 3rd. Redburn Atlantic began coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective on the stock. Finally, TD Cowen reduced their target price on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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).