EFG Asset Management Americas Corp. Sells 1,548 Shares of Legend Biotech Co. (NASDAQ:LEGN)

EFG Asset Management Americas Corp. reduced its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,641 shares of the company’s stock after selling 1,548 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Legend Biotech were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BluePath Capital Management LLC bought a new position in shares of Legend Biotech during the third quarter valued at $32,000. Coppell Advisory Solutions LLC bought a new position in shares of Legend Biotech during the second quarter valued at $41,000. American International Group Inc. bought a new position in shares of Legend Biotech during the second quarter valued at $33,000. Lazard Asset Management LLC purchased a new stake in Legend Biotech during the fourth quarter valued at $33,000. Finally, Atlas Capital Advisors LLC purchased a new stake in Legend Biotech during the second quarter valued at $57,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Price Performance

Shares of Legend Biotech stock opened at $46.19 on Monday. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -31.21 and a beta of 0.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. The stock has a 50 day moving average price of $59.31 and a 200-day moving average price of $60.78. Legend Biotech Co. has a one year low of $45.68 and a one year high of $77.32.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $95.63 million. The business’s revenue for the quarter was up 177.2% on a year-over-year basis. Equities analysts expect that Legend Biotech Co. will post -1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald began coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective for the company. Barclays increased their target price on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. UBS Group lifted their target price on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Raymond James started coverage on Legend Biotech in a research note on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus price target of $83.26.

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).