Legend Biotech Co. (NASDAQ:LEGN) Stock Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its position in Legend Biotech Co. (NASDAQ:LEGN) by 26.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,085 shares of the company’s stock after buying an additional 2,297 shares during the period. Asset Management One Co. Ltd.’s holdings in Legend Biotech were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Legend Biotech during the third quarter worth $148,000. Blue Trust Inc. raised its position in shares of Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after purchasing an additional 5,478 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Legend Biotech during the third quarter worth $229,000. Aigen Investment Management LP acquired a new stake in shares of Legend Biotech during the third quarter worth $300,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Legend Biotech during the third quarter worth $306,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $38.92 on Friday. The stock’s fifty day simple moving average is $34.89 and its 200-day simple moving average is $43.20. 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 1-year low of $30.17 and a 1-year high of $70.13. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -40.97 and a beta of 0.18.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LEGN. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $79.50.

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).