Legend Biotech Co. (NASDAQ:LEGN) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 76.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,669 shares of the company’s stock after acquiring an additional 8,948 shares during the quarter. First Trust Advisors LP’s holdings in Legend Biotech were worth $673,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LEGN. Signaturefd LLC boosted its holdings in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after purchasing an additional 1,579 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Legend Biotech in the 4th quarter valued at $77,000. Quadrant Capital Group LLC increased 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 worth $124,000 after acquiring an additional 3,738 shares during the last quarter. Blue Trust Inc. raised 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 worth $190,000 after acquiring an additional 5,478 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Legend Biotech by 12.9% during the fourth 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 last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEGN. Morgan Stanley dropped their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of Legend Biotech in a research note on Tuesday, April 22nd. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Legend Biotech presently has an average rating of “Moderate Buy” and a consensus target price of $78.82.

Legend Biotech Trading Up 1.8 %

NASDAQ:LEGN opened at $32.04 on Friday. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87. The firm has a market cap of $5.88 billion, a PE ratio of -33.73 and a beta of 0.20. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $34.09 and a 200 day moving average price of $36.47.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business’s revenue for the quarter was up 134.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. Sell-side analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share 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).