Blue Trust Inc. Buys 806 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Blue Trust Inc. raised its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 10,075.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 814 shares of the company’s stock after acquiring an additional 806 shares during the period. Blue Trust Inc.’s holdings in Legend Biotech were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Legend Biotech by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock valued at $614,137,000 after purchasing an additional 140,904 shares during the last quarter. RA Capital Management L.P. grew its stake in shares of Legend Biotech by 9.5% during the first quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock valued at $384,839,000 after buying an additional 596,390 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Legend Biotech by 71.6% during the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after buying an additional 962,381 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Legend Biotech by 26.1% in the first quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock worth $125,629,000 after buying an additional 463,527 shares during the period. Finally, Capital International Investors lifted its stake in shares of Legend Biotech by 19.5% during the 1st quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock worth $122,336,000 after acquiring an additional 356,387 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Up 0.2 %

Shares of NASDAQ:LEGN opened at $57.50 on Friday. The company has a market capitalization of $10.48 billion, a PE ratio of -44.23 and a beta of 0.11. The company has a current ratio of 5.66, a quick ratio of 5.57 and a debt-to-equity ratio of 0.25. Legend Biotech Co. has a 12-month low of $38.60 and a 12-month high of $72.38. The business’s fifty day simple moving average is $51.95 and its 200-day simple moving average is $52.53.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.49. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $125.25 million. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. The firm’s quarterly revenue was up 154.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. As a group, equities research analysts predict that Legend Biotech Co. will post -1.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LEGN shares. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price on shares of Legend Biotech in a research note on Monday, June 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Monday, August 12th. Truist Financial initiated coverage on shares of Legend Biotech in a research report on Monday, June 17th. They issued a “buy” rating and a $88.00 price objective for the company. TD Cowen reduced their target price on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Legend Biotech in a report on Thursday, May 23rd. They issued a “buy” rating and a $60.00 price target for the company. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $81.78.

Legend Biotech Company 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).