Sector Gamma AS Has $1.58 Million Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Sector Gamma AS raised its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 25.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 48,495 shares of the company’s stock after acquiring an additional 9,733 shares during the quarter. Sector Gamma AS’s holdings in Legend Biotech were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEGN. Avior Wealth Management LLC increased its position in shares of Legend Biotech by 3.0% during the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after buying an additional 323 shares during the period. Bridgewater Associates LP increased its position in shares of Legend Biotech by 0.3% during the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock worth $8,088,000 after buying an additional 516 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position 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 during the period. Advisors Asset Management Inc. increased its position in shares of Legend Biotech by 14.0% during the third quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company’s stock worth $332,000 after buying an additional 837 shares during the period. Finally, Aigen Investment Management LP increased its position in shares of 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 buying an additional 1,206 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Down 0.9 %

LEGN opened at $37.72 on Friday. Legend Biotech Co. has a fifty-two week low of $30.17 and a fifty-two week high of $60.90. The company’s 50-day moving average is $36.04 and its 200 day moving average is $40.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market capitalization of $6.93 billion, a P/E ratio of -39.70 and a beta of 0.19.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LEGN shares. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley cut their target price on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Finally, HC Wainwright increased their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.00.

About Legend Biotech

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).