Legend Biotech Co. (NASDAQ:LEGN) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in Legend Biotech Co. (NASDAQ:LEGN) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,085 shares of the company’s stock after purchasing an additional 2,297 shares during the period. Asset Management One Co. Ltd.’s holdings in Legend Biotech were worth $360,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Legend Biotech in the 3rd quarter worth approximately $148,000. Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech in the 3rd quarter worth approximately $229,000. Blue Trust Inc. lifted its holdings in shares of Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after purchasing an additional 5,478 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Legend Biotech in the 3rd quarter worth approximately $300,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Legend Biotech in the 3rd quarter worth approximately $306,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Up 0.4 %

LEGN opened at $38.92 on Friday. Legend Biotech Co. has a one year low of $30.17 and a one year high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock’s fifty day moving average is $34.89 and its 200-day moving average is $43.20. The company has a market capitalization of $7.11 billion, a PE ratio of -40.97 and a beta of 0.18.

Analysts Set New Price Targets

Several brokerages recently issued reports on LEGN. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research note on Monday, December 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research note on Tuesday, January 21st. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $79.50.

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).