Harbor Capital Advisors Inc. Sells 4,152 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Harbor Capital Advisors Inc. trimmed its position in Legend Biotech Co. (NASDAQ:LEGN) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,441 shares of the company’s stock after selling 4,152 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Legend Biotech were worth $210,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Legend Biotech in the third quarter valued at approximately $148,000. SG Americas Securities LLC bought a new stake in Legend Biotech in the 3rd quarter valued at $212,000. Public Employees Retirement System of Ohio acquired a new stake in Legend Biotech during the 3rd quarter valued at $229,000. Vanguard Personalized Indexing Management LLC boosted its position in Legend Biotech by 31.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,540 shares of the company’s stock worth $290,000 after purchasing an additional 1,571 shares during the period. Finally, Aigen Investment Management LP bought a new position in Legend Biotech during the third quarter worth $300,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Trading Down 2.6 %

LEGN opened at $31.64 on Wednesday. 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 twelve month low of $30.17 and a twelve month high of $70.13. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of -33.30 and a beta of 0.16. The company has a 50-day simple moving average of $37.27 and a 200 day simple moving average of $46.30.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 66.9% on a year-over-year basis. Analysts predict that Legend Biotech Co. will post -1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LEGN. Cantor Fitzgerald restated an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. HC Wainwright restated a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a report on Tuesday, December 10th. Redburn Atlantic initiated coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $80.62.

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).