Northern Trust Corp Has $9.26 Million Position in Legend Biotech Co. (NASDAQ:LEGN)

Northern Trust Corp grew its stake in Legend Biotech Co. (NASDAQ:LEGN) by 239.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,678 shares of the company’s stock after buying an additional 200,786 shares during the period. Northern Trust Corp owned 0.16% of Legend Biotech worth $9,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Tri Locum Partners LP increased its position in Legend Biotech by 7.3% during the 4th quarter. Tri Locum Partners LP now owns 388,704 shares of the company’s stock valued at $12,648,000 after purchasing an additional 26,434 shares during the period. Decheng Capital LLC increased its position in shares of Legend Biotech by 41.5% during the fourth quarter. Decheng Capital LLC now owns 153,558 shares of the company’s stock worth $4,997,000 after buying an additional 45,000 shares during the period. Virtus ETF Advisers LLC raised its stake in Legend Biotech by 30.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,852 shares of the company’s stock worth $321,000 after buying an additional 2,310 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in Legend Biotech by 0.6% in the fourth quarter. Rock Springs Capital Management LP now owns 512,132 shares of the company’s stock valued at $16,665,000 after buying an additional 3,200 shares during the period. Finally, Stifel Financial Corp boosted its position in Legend Biotech by 70.4% during the fourth quarter. Stifel Financial Corp now owns 31,365 shares of the company’s stock valued at $1,021,000 after acquiring an additional 12,955 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN opened at $27.78 on Friday. 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 market cap of $5.10 billion, a PE ratio of -29.24 and a beta of 0.20. The stock’s fifty day simple moving average is $33.47 and its two-hundred day simple moving average is $35.79. Legend Biotech Co. has a 1-year low of $27.34 and a 1-year high of $60.87.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. As a group, analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price objective on shares of Legend Biotech in a research note on Wednesday. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of Legend Biotech in a research note on Wednesday, April 16th. Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Finally, Truist Financial cut their price target on Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Legend Biotech has an average rating of “Moderate Buy” and a consensus price target of $74.73.

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).