TD Asset Management Inc Lowers Holdings in Legend Biotech Co. (NASDAQ:LEGN)

TD Asset Management Inc lowered its position in shares of Legend Biotech Co. (NASDAQ:LEGNFree Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 238,216 shares of the company’s stock after selling 33,344 shares during the quarter. TD Asset Management Inc owned about 0.13% of Legend Biotech worth $14,333,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Legend Biotech by 53.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock worth $91,000 after purchasing an additional 472 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Legend Biotech by 5.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,884 shares of the company’s stock worth $294,000 after purchasing an additional 253 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Legend Biotech by 2,134.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,832 shares of the company’s stock worth $351,000 after purchasing an additional 5,571 shares during the period. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Legend Biotech during the 4th quarter worth about $404,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Legend Biotech during the 3rd quarter worth about $484,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Price Performance

Shares of LEGN opened at $40.03 on Tuesday. The company has a quick ratio of 5.57, a current ratio of 5.66 and a debt-to-equity ratio of 0.25. Legend Biotech Co. has a 52-week low of $38.60 and a 52-week high of $77.32. The business’s 50 day moving average is $47.76 and its two-hundred day moving average is $56.02.

Legend Biotech (NASDAQ:LEGNGet Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The company had revenue of $93.90 million during the quarter, compared to the consensus estimate of $143.24 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The company’s revenue for the quarter was up 158.7% compared to the same quarter last year. As a group, equities research analysts predict that Legend Biotech Co. will post -1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Legend Biotech in a report on Thursday, May 23rd. They set a “buy” rating and a $60.00 target price for the company. Cantor Fitzgerald began coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price target on the stock. HC Wainwright reduced their price target on Legend Biotech from $86.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Scotiabank raised Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price target on Legend Biotech from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Legend Biotech has a consensus rating of “Buy” and an average price target of $81.10.

Check Out Our Latest Stock Report on LEGN

Legend Biotech Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Legend Biotech (NASDAQ:LEGN)

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