Quantbot Technologies LP Raises Stake in Legend Biotech Co. (NASDAQ:LEGN)

Quantbot Technologies LP boosted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 280.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,532 shares of the company’s stock after buying an additional 8,500 shares during the quarter. Quantbot Technologies LP’s holdings in Legend Biotech were worth $375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridgewater Associates LP increased its stake in shares of Legend Biotech by 0.3% in the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock worth $8,088,000 after acquiring an additional 516 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Legend Biotech by 12.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock worth $238,000 after purchasing an additional 835 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Legend Biotech by 14.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company’s stock valued at $332,000 after buying an additional 837 shares during the last quarter. Aigen Investment Management LP lifted its holdings in shares of Legend Biotech by 19.6% in the 4th quarter. Aigen Investment Management LP now owns 7,363 shares of the company’s stock valued at $240,000 after buying an additional 1,206 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Legend Biotech by 5.9% in the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company’s stock worth $899,000 after buying an additional 1,544 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LEGN shares. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. HC Wainwright boosted their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research note 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Legend Biotech Trading Down 0.9 %

Shares of Legend Biotech stock opened at $35.06 on Friday. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $60.87. The firm has a market capitalization of $6.44 billion, a PE ratio of -36.90 and a beta of 0.19. The firm’s 50-day moving average price is $36.44 and its 200 day moving average price is $39.66.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $179.00 million. During the same quarter last year, the business posted ($0.40) earnings per share. The business’s quarterly revenue was up 134.6% compared to the same quarter last year. On average, sell-side analysts predict that Legend Biotech Co. will post -1.31 EPS for the current fiscal 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).