Legal & General Group Plc lowered its position in shares of Legend Biotech Co. (NASDAQ:LEGN – Free Report) by 39.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,775 shares of the company’s stock after selling 193,956 shares during the period. Legal & General Group Plc owned 0.16% of Legend Biotech worth $9,755,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 buying an additional 835 shares in the last quarter. Aigen Investment Management LP increased its position in Legend Biotech by 19.6% during the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company’s stock worth $240,000 after acquiring an additional 1,206 shares during the period. Rhumbline Advisers raised its stake in Legend Biotech by 5.9% in the 4th quarter. Rhumbline Advisers now owns 27,638 shares of the company’s stock worth $899,000 after purchasing an additional 1,544 shares in the last quarter. Signaturefd LLC boosted its holdings in Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after purchasing an additional 1,579 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Legend Biotech by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,320 shares of the company’s stock worth $564,000 after purchasing an additional 1,609 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.
Legend Biotech Stock Performance
Shares of Legend Biotech stock opened at $32.80 on Friday. The company’s 50 day moving average price is $35.07 and its two-hundred day moving average price is $37.89. The firm has a market capitalization of $6.02 billion, a P/E ratio of -34.53 and a beta of 0.21. Legend Biotech Co. has a fifty-two week low of $29.27 and a fifty-two week high of $60.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.
Analysts Set New Price Targets
Several brokerages recently issued reports on LEGN. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley cut 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. Piper Sandler restated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Legend Biotech in a research note on Wednesday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.00.
Read Our Latest Stock Analysis on Legend Biotech
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).
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