Legend Biotech Co. (NASDAQ:LEGN) Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,855 shares of the company’s stock after purchasing an additional 15,058 shares during the period. Sei Investments Co.’s holdings in Legend Biotech were worth $2,175,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its holdings in Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after buying an additional 1,579 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Legend Biotech during the 4th quarter valued at approximately $77,000. Blue Trust Inc. raised its position in shares of Legend Biotech by 1,513.3% during 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 in the last quarter. Public Employees Retirement System of Ohio bought a new position in Legend Biotech during the third quarter worth $229,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock worth $238,000 after purchasing an additional 835 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEGN has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. HC Wainwright raised their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $32.01 on Friday. Legend Biotech Co. has a 12-month low of $30.17 and a 12-month high of $60.87. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.88 billion, a PE ratio of -33.69 and a beta of 0.21. The stock has a 50 day simple moving average of $36.12 and a 200-day simple moving average of $38.96.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s quarterly revenue was up 134.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. On average, equities research analysts forecast that Legend Biotech Co. will post -1.31 EPS for the current year.

About Legend Biotech

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).