Tower Research Capital LLC TRC Reduces Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Tower Research Capital LLC TRC decreased its holdings in Legend Biotech Co. (NASDAQ:LEGN – Get Rating) by 36.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,106 shares of the company’s stock after selling 2,336 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Legend Biotech were worth $167,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Legend Biotech by 174.8% during the second quarter. FMR LLC now owns 6,663,704 shares of the company’s stock valued at $366,505,000 after buying an additional 4,239,041 shares during the last quarter. Capital World Investors increased its holdings in Legend Biotech by 85.5% in the 1st quarter. Capital World Investors now owns 2,214,024 shares of the company’s stock worth $80,458,000 after acquiring an additional 1,020,545 shares in the last quarter. BlackRock Inc. increased its holdings in Legend Biotech by 26.6% in the 1st quarter. BlackRock Inc. now owns 3,046,229 shares of the company’s stock worth $110,701,000 after acquiring an additional 639,828 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Legend Biotech in the 2nd quarter worth approximately $31,194,000. Finally, Samlyn Capital LLC purchased a new stake in Legend Biotech in the 2nd quarter worth approximately $24,970,000. 38.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on LEGN. UBS Group began coverage on shares of Legend Biotech in a report on Tuesday, December 6th. They issued a “buy” rating and a $66.00 target price for the company. Morgan Stanley increased their price objective on shares of Legend Biotech from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Legend Biotech from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, December 6th. Barclays increased their price objective on shares of Legend Biotech from $53.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 25th. Finally, Piper Sandler increased their price objective on shares of Legend Biotech from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.33.

Legend Biotech Stock Down 0.4 %

NASDAQ:LEGN opened at $46.14 on Thursday. Legend Biotech Co. has a twelve month low of $30.75 and a twelve month high of $57.72. The company has a market cap of $7.72 billion, a price-to-earnings ratio of -38.77 and a beta of -0.09. The stock has a fifty day simple moving average of $50.13 and a 200-day simple moving average of $47.96. The company has a current ratio of 3.22, a quick ratio of 3.19 and a debt-to-equity ratio of 0.34.

About Legend Biotech

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Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma.