Barclays PLC Sells 33,779 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Barclays PLC cut its stake in Legend Biotech Co. (NASDAQ:LEGN) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,571 shares of the company’s stock after selling 33,779 shares during the period. Barclays PLC’s holdings in Legend Biotech were worth $4,120,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after buying an additional 1,579 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Legend Biotech in the 4th quarter worth approximately $77,000. Quadrant Capital Group LLC boosted its stake in shares of Legend Biotech by 4,296.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock valued at $124,000 after purchasing an additional 3,738 shares in the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 5,478 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Legend Biotech by 12.9% in 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. Institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

LEGN has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price objective on shares of Legend Biotech in a report on Tuesday, April 22nd. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Morgan Stanley lowered their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $78.00 price target 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.82.

Legend Biotech Price Performance

LEGN stock opened at $34.28 on Monday. The company has a market capitalization of $6.30 billion, a PE ratio of -36.08 and a beta of 0.21. The company’s fifty day moving average price is $34.76 and its 200-day moving average price is $37.11. Legend Biotech Co. has a one year low of $29.27 and a one year high of $60.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted ($0.40) EPS. The company’s revenue was up 134.6% compared to the same quarter last year. On average, equities analysts anticipate 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).