Signaturefd LLC Increases Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Signaturefd LLC grew its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 1,052.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,729 shares of the company’s stock after purchasing an additional 1,579 shares during the period. Signaturefd LLC’s holdings in Legend Biotech were worth $56,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Legend Biotech by 4.0% during the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock worth $893,232,000 after acquiring an additional 708,620 shares during the period. Franklin Resources Inc. purchased a new position in shares of Legend Biotech in the 3rd quarter valued at about $12,837,000. Los Angeles Capital Management LLC acquired a new stake in shares of Legend Biotech in the fourth quarter valued at about $5,611,000. Matthews International Capital Management LLC boosted its holdings in Legend Biotech by 14.9% during the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company’s stock worth $38,577,000 after buying an additional 153,665 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Legend Biotech during the third quarter worth about $6,091,000. 70.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. HC Wainwright raised their price target on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Legend Biotech Stock Down 1.7 %

LEGN stock opened at $36.33 on Tuesday. The company has a 50 day moving average price of $36.18 and a two-hundred day moving average price of $39.93. 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 market capitalization of $6.67 billion, a P/E ratio of -38.24 and a beta of 0.19. Legend Biotech Co. has a one year low of $30.17 and a one year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last released its 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 return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $186.50 million during the quarter, compared to analyst estimates of $179.00 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. The business’s quarterly revenue was up 134.6% compared to the same quarter last year. As a group, sell-side analysts expect that Legend Biotech Co. will post -1.31 EPS for the current 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).