Jump Financial LLC Has $4.89 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Jump Financial LLC raised its position in Legend Biotech Co. (NASDAQ:LEGN) by 2,108.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,182 shares of the company’s stock after acquiring an additional 143,382 shares during the period. Jump Financial LLC’s holdings in Legend Biotech were worth $4,887,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC raised 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 valued at $56,000 after purchasing an additional 1,579 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Legend Biotech in the 4th quarter valued at $77,000. Quadrant Capital Group LLC lifted its holdings in shares of Legend Biotech by 4,296.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock worth $124,000 after acquiring an additional 3,738 shares during the period. Blue Trust Inc. boosted its position in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after acquiring an additional 5,478 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Legend Biotech in the third quarter valued at about $229,000. Institutional investors own 70.89% of the company’s stock.

Analyst Upgrades and Downgrades

LEGN has been the subject of a number of analyst reports. Morgan Stanley cut their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Legend Biotech in a research report on Wednesday. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Legend Biotech Stock Down 0.8 %

Shares of NASDAQ:LEGN opened at $33.46 on Thursday. Legend Biotech Co. has a 12 month low of $29.27 and a 12 month high of $60.87. The firm has a market cap of $6.14 billion, a P/E ratio of -35.22 and a beta of 0.21. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $35.13 and its two-hundred day moving average price is $38.00.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.46. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. Legend Biotech’s revenue was up 134.6% compared to the same quarter last year. As a group, research analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

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).