47,000 Shares in Legend Biotech Co. (NASDAQ:LEGN) Acquired by Exome Asset Management LLC

Exome Asset Management LLC bought a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 47,000 shares of the company’s stock, valued at approximately $2,290,000. Legend Biotech makes up approximately 1.5% of Exome Asset Management LLC’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds have also made changes to their positions in LEGN. Westfield Capital Management Co. LP lifted its position in shares of Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock valued at $245,526,000 after buying an additional 266,296 shares during the last quarter. Hsbc Holdings PLC lifted its position in Legend Biotech by 9.9% during the second quarter. Hsbc Holdings PLC now owns 232,560 shares of the company’s stock valued at $10,296,000 after acquiring an additional 20,910 shares during the last quarter. Empire Life Investments Inc. boosted its stake in Legend Biotech by 75.2% in the third quarter. Empire Life Investments Inc. now owns 98,688 shares of the company’s stock valued at $4,809,000 after acquiring an additional 42,368 shares in the last quarter. Vestal Point Capital LP purchased a new position in Legend Biotech in the third quarter worth $6,091,000. Finally, XTX Topco Ltd acquired a new position in shares of Legend Biotech during the third quarter worth $1,840,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on LEGN shares. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Redburn Atlantic initiated coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Finally, HC Wainwright reissued a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Tuesday. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $81.54.

Legend Biotech Trading Down 1.0 %

Shares of NASDAQ:LEGN opened at $35.12 on Friday. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -36.97 and a beta of 0.08. The business’s 50 day moving average price is $42.68 and its 200-day moving average price is $47.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. Legend Biotech Co. has a 1 year low of $34.95 and a 1 year high of $70.13.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. The business had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) earnings per share. On average, equities research analysts forecast that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

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).