Hhlr Advisors LTD. Has $194.74 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Hhlr Advisors LTD. trimmed its position in Legend Biotech Co. (NASDAQ:LEGN) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,984,550 shares of the company’s stock after selling 651,946 shares during the quarter. Legend Biotech accounts for approximately 6.7% of Hhlr Advisors LTD.’s holdings, making the stock its 7th biggest holding. Hhlr Advisors LTD. owned about 3.28% of Legend Biotech worth $194,737,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in shares of Legend Biotech during the 3rd quarter valued at about $12,837,000. Exome Asset Management LLC purchased a new stake in Legend Biotech during the 3rd quarter valued at about $2,290,000. Nordea Investment Management AB raised its holdings in Legend Biotech by 14.2% in the fourth quarter. Nordea Investment Management AB now owns 266,232 shares of the company’s stock worth $8,684,000 after buying an additional 33,024 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Legend Biotech by 27.6% during the fourth quarter. Diversified Trust Co now owns 45,288 shares of the company’s stock valued at $1,474,000 after buying an additional 9,784 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Legend Biotech by 276.5% in the 4th quarter. SG Americas Securities LLC now owns 16,417 shares of the company’s stock worth $534,000 after purchasing an additional 12,057 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Up 1.2 %

Legend Biotech stock opened at $34.70 on Tuesday. Legend Biotech Co. has a one year low of $29.27 and a one year high of $60.87. The stock has a market cap of $6.37 billion, a PE ratio of -36.53 and a beta of 0.21. 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 stock has a 50-day moving average of $34.67 and a two-hundred day moving average of $37.00.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same period in the previous year, the company earned ($0.40) earnings per share. The business’s quarterly revenue was up 134.6% compared to the same quarter last year. On average, research analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LEGN has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of Legend Biotech in a report on Tuesday, April 22nd. Morgan Stanley cut their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Piper Sandler reiterated an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Legend Biotech in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.82.

About Legend Biotech

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).