Thrivent Financial for Lutherans Grows Stake in Legend Biotech Co. (NASDAQ:LEGN)

Thrivent Financial for Lutherans grew its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 38.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,377 shares of the company’s stock after buying an additional 33,585 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Legend Biotech worth $5,915,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 806 shares in the last quarter. American International Group Inc. increased its position in shares of Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after buying an additional 300 shares during the period. AM Squared Ltd bought a new position in Legend Biotech in the second quarter worth about $71,000. California State Teachers Retirement System lifted its holdings in Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after buying an additional 2,216 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Legend Biotech during the 3rd quarter valued at approximately $212,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Price Performance

Shares of LEGN opened at $40.94 on Friday. The company has a market capitalization of $7.46 billion, a P/E ratio of -43.09 and a beta of 0.11. Legend Biotech Co. has a twelve month low of $36.92 and a twelve month high of $70.13. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $44.92 and a 200 day moving average of $48.06.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company’s revenue was up 66.9% on a year-over-year basis. As a group, equities research analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank lifted their price target on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Monday, August 12th. Redburn Atlantic began coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $81.46.

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).