KLP Kapitalforvaltning AS Buys New Holdings in Legend Biotech Co. (NASDAQ:LEGN)

KLP Kapitalforvaltning AS purchased a new position in shares of Legend Biotech Co. (NASDAQ:LEGN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,400 shares of the company’s stock, valued at approximately $599,000.

Other large investors also recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after buying an additional 1,579 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Legend Biotech during the fourth quarter worth about $77,000. Quantbot Technologies LP acquired a new position in Legend Biotech in the third quarter worth about $148,000. Blue Trust Inc. increased its holdings in Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after buying an additional 5,478 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Legend Biotech during the third quarter valued at approximately $229,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Morgan Stanley dropped their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.00.

Legend Biotech Trading Up 5.5 %

LEGN opened at $33.24 on Thursday. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $60.87. The firm has a market cap of $6.10 billion, a PE ratio of -34.99 and a beta of 0.19. 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’s fifty day moving average is $36.32 and its two-hundred day moving average is $39.23.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.46. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company’s revenue for the quarter was up 134.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. Equities research analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

Legend Biotech Company 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).