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

First Trust Advisors LP increased its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 76.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,669 shares of the company’s stock after purchasing an additional 8,948 shares during the quarter. First Trust Advisors LP’s holdings in Legend Biotech were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LEGN. Franklin Resources Inc. purchased a new stake in shares of Legend Biotech in the 3rd quarter valued at about $12,837,000. Nordea Investment Management AB lifted its stake in Legend Biotech by 14.2% in the fourth quarter. Nordea Investment Management AB now owns 266,232 shares of the company’s stock valued at $8,684,000 after buying an additional 33,024 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Legend Biotech by 27.6% in the fourth quarter. Diversified Trust Co now owns 45,288 shares of the company’s stock valued at $1,474,000 after acquiring an additional 9,784 shares during the period. SG Americas Securities LLC grew its position in shares of Legend Biotech by 276.5% during the fourth quarter. SG Americas Securities LLC now owns 16,417 shares of the company’s stock worth $534,000 after acquiring an additional 12,057 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after acquiring an additional 5,478 shares during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $32.04 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. Legend Biotech Co. has a 12-month low of $29.27 and a 12-month high of $60.87. The company has a market cap of $5.88 billion, a price-to-earnings ratio of -33.73 and a beta of 0.20. The stock has a 50 day simple moving average of $34.09 and a 200-day simple moving average of $36.47.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company 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 earned ($0.40) earnings per share. Legend Biotech’s quarterly revenue was up 134.6% compared to the same quarter last year. On average, equities analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

LEGN has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Legend Biotech in a research note on Wednesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley dropped their price target on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price objective on shares of Legend Biotech in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.82.

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).