HighTower Advisors LLC Has $328,000 Holdings in Legend Biotech Co. (NASDAQ:LEGN)

HighTower Advisors LLC increased its position in Legend Biotech Co. (NASDAQ:LEGN) by 75.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,079 shares of the company’s stock after acquiring an additional 4,325 shares during the quarter. HighTower Advisors LLC’s holdings in Legend Biotech were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Legend Biotech in the fourth quarter worth about $77,000. Quantbot Technologies LP bought a new position in Legend Biotech in the 3rd quarter worth approximately $148,000. Blue Trust Inc. increased its position in 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 buying an additional 5,478 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Legend Biotech during the third quarter worth approximately $229,000. Finally, Aigen Investment Management LP boosted its position in shares of Legend Biotech by 19.6% in the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company’s stock valued at $240,000 after acquiring an additional 1,206 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

Legend Biotech stock opened at $31.52 on Wednesday. The business has a 50 day simple moving average of $36.40 and a 200 day simple moving average of $39.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The company has a market capitalization of $5.79 billion, a PE ratio of -33.18 and a beta of 0.19. Legend Biotech Co. has a one year low of $30.17 and a one year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $179.00 million. During the same period last year, the business earned ($0.40) earnings per share. The business’s revenue was up 134.6% on a year-over-year basis. On average, sell-side analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LEGN shares. HC Wainwright boosted their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Piper Sandler restated an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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).