Dynamic Technology Lab Private Ltd Takes $306,000 Position in Legend Biotech Co. (NASDAQ:LEGN)

Dynamic Technology Lab Private Ltd bought a new position in shares of Legend Biotech Co. (NASDAQ:LEGN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,272 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Legend Biotech by 10,075.0% in the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after acquiring an additional 806 shares during the period. AM Squared Ltd bought a new position in Legend Biotech in the second quarter worth $71,000. California State Teachers Retirement System lifted its position in Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after purchasing an additional 2,216 shares during the period. SG Americas Securities LLC bought a new stake in Legend Biotech in the 3rd quarter valued at $212,000. Finally, CIBC Asset Management Inc bought a new stake in Legend Biotech in the 2nd quarter valued at $283,000. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Stock Performance

Legend Biotech stock opened at $42.07 on Monday. The stock has a 50-day simple moving average of $44.16 and a 200 day simple moving average of $48.01. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -44.28 and a beta of 0.11. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a 12-month low of $36.92 and a 12-month high of $70.13.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 66.9% on a year-over-year basis. On average, research analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

LEGN has been the subject of a number of analyst reports. Redburn Atlantic assumed coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a report on Tuesday, October 29th. Finally, Scotiabank raised their target price on Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 12th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $81.46.

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).