Legend Biotech Co. (NASDAQ:LEGN) Shares Purchased by CI Investments Inc.

CI Investments Inc. increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN – Get Rating) by 779.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,463 shares of the company’s stock after acquiring an additional 2,183 shares during the period. CI Investments Inc.’s holdings in Legend Biotech were worth $123,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LEGN. RA Capital Management L.P. acquired a new position in Legend Biotech during the 3rd quarter worth about $95,415,000. Capital World Investors increased its holdings in Legend Biotech by 85.5% during the 1st quarter. Capital World Investors now owns 2,214,024 shares of the company’s stock worth $80,458,000 after purchasing an additional 1,020,545 shares during the period. BlackRock Inc. increased its holdings in Legend Biotech by 26.6% during the 1st quarter. BlackRock Inc. now owns 3,046,229 shares of the company’s stock worth $110,701,000 after purchasing an additional 639,828 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Legend Biotech during the 2nd quarter worth about $31,194,000. Finally, Samlyn Capital LLC increased its holdings in Legend Biotech by 96.4% during the 3rd quarter. Samlyn Capital LLC now owns 891,512 shares of the company’s stock worth $36,373,000 after purchasing an additional 437,505 shares during the period. Institutional investors and hedge funds own 38.88% of the company’s stock.

Analyst Upgrades and Downgrades

LEGN has been the topic of several recent research reports. HC Wainwright upped their price target on Legend Biotech from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. BTIG Research upped their price target on Legend Biotech from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Barclays increased their price objective on Legend Biotech from $65.00 to $90.00 in a report on Friday, May 19th. Royal Bank of Canada increased their price objective on Legend Biotech from $74.00 to $83.00 in a report on Friday, May 19th. Finally, JPMorgan Chase & Co. increased their price objective on Legend Biotech from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Legend Biotech presently has an average rating of “Moderate Buy” and an average price target of $78.89.

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $66.04 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.84 and a quick ratio of 3.79. Legend Biotech Co. has a 52-week low of $37.30 and a 52-week high of $73.30. The business has a 50-day moving average price of $58.80 and a 200 day moving average price of $53.20.

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.