Legend Biotech Co. (NASDAQ:LEGN) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 1,513.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,840 shares of the company’s stock after buying an additional 5,478 shares during the quarter. Blue Trust Inc.’s holdings in Legend Biotech were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Legend Biotech in the 3rd quarter valued at about $148,000. SG Americas Securities LLC acquired a new stake in Legend Biotech in the third quarter worth approximately $212,000. Public Employees Retirement System of Ohio acquired a new position in Legend Biotech during the third quarter worth about $229,000. Aigen Investment Management LP acquired a new stake in shares of Legend Biotech during the 3rd quarter valued at $300,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Legend Biotech in the third quarter worth about $306,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Stock Performance

LEGN stock opened at $37.84 on Wednesday. The company has a 50 day moving average price of $36.01 and a 200 day moving average price of $44.89. The stock has a market capitalization of $6.91 billion, a PE ratio of -39.83 and a beta of 0.17. Legend Biotech Co. has a fifty-two week low of $30.17 and a fifty-two week high of $70.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. The company had revenue of $160.20 million for the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS. Analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

LEGN has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a report on Tuesday, January 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Redburn Atlantic assumed coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $79.50.

About Legend Biotech

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).