Rhumbline Advisers Purchases 1,544 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Rhumbline Advisers increased its position in Legend Biotech Co. (NASDAQ:LEGN) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,638 shares of the company’s stock after purchasing an additional 1,544 shares during the period. Rhumbline Advisers’ holdings in Legend Biotech were worth $899,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LEGN. Asset Management One Co. Ltd. grew its position in shares of Legend Biotech by 26.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company’s stock worth $360,000 after buying an additional 2,297 shares during the period. Exane Asset Management bought a new stake in Legend Biotech during the fourth quarter worth about $2,284,000. China Universal Asset Management Co. Ltd. grew its holdings in Legend Biotech by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company’s stock worth $564,000 after purchasing an additional 1,609 shares during the period. Matthews International Capital Management LLC increased its stake in shares of Legend Biotech by 14.9% during the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company’s stock valued at $38,577,000 after purchasing an additional 153,665 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after purchasing an additional 5,478 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN opened at $34.18 on Friday. 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 firm has a market cap of $6.24 billion, a price-to-earnings ratio of -35.98 and a beta of 0.19. The business has a 50-day simple moving average of $35.30 and a two-hundred day simple moving average of $41.81. Legend Biotech Co. has a fifty-two week low of $30.17 and a fifty-two week high of $69.24.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 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 target on shares of Legend Biotech in a report on Tuesday, January 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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).