Thrivent Financial for Lutherans Lowers Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Thrivent Financial for Lutherans decreased its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,792 shares of the company’s stock after selling 31,053 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Legend Biotech were worth $3,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LEGN. Blue Trust Inc. raised its holdings in shares of Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after buying an additional 806 shares during the last quarter. Quarry LP acquired a new position in Legend Biotech in the 4th quarter valued at about $45,000. American International Group Inc. raised its stake in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares during the last quarter. AM Squared Ltd acquired a new stake in Legend Biotech during the 2nd quarter worth approximately $71,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Legend Biotech in the 4th quarter valued at approximately $120,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEGN has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Friday. BMO Capital Markets restated an “outperform” rating and set a $90.00 price objective on shares of Legend Biotech in a research report on Wednesday, July 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a report on Wednesday, August 28th. Truist Financial assumed coverage on shares of Legend Biotech in a report on Monday, June 17th. They set a “buy” rating and a $88.00 price target for the company. Finally, Scotiabank lifted their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a report on Monday, August 12th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $81.78.

Legend Biotech Stock Up 5.2 %

Shares of NASDAQ LEGN opened at $49.27 on Friday. The firm’s 50-day moving average is $54.17 and its two-hundred day moving average is $50.60. The company has a market capitalization of $8.98 billion, a PE ratio of -37.90 and a beta of 0.11. Legend Biotech Co. has a 12-month low of $38.60 and a 12-month high of $70.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data 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 business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The business’s revenue was up 154.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.27) earnings per share. Equities analysts anticipate that Legend Biotech Co. will post -1.46 EPS for the current fiscal year.

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).