6,157 Shares in Legend Biotech Co. (NASDAQ:LEGN) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Legend Biotech Co. (NASDAQ:LEGN) in the third quarter, Holdings Channel.com reports. The institutional investor bought 6,157 shares of the company’s stock, valued at approximately $300,000.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Legend Biotech by 1.3% in 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. raised its holdings in 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 in the last quarter. Capital International Investors lifted its position in shares of Legend Biotech by 19.5% in the first quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock worth $122,336,000 after buying an additional 356,387 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Legend Biotech by 8.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock worth $112,982,000 after acquiring an additional 148,855 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Legend Biotech by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,960,709 shares of the company’s stock valued at $86,840,000 after acquiring an additional 69,913 shares during the last quarter. 70.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LEGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Tuesday, October 29th. Redburn Atlantic assumed coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Wednesday. Finally, Scotiabank raised 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. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $81.46.

Legend Biotech Price Performance

Shares of LEGN stock opened at $38.19 on Friday. Legend Biotech Co. has a 12 month low of $38.02 and a 12 month high of $70.13. The company has a market capitalization of $6.96 billion, a P/E ratio of -40.20 and a beta of 0.11. The stock has a 50 day moving average of $46.01 and a two-hundred day moving average of $48.23. The company has a current ratio of 4.98, a quick ratio of 4.78 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. Legend Biotech’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same period last year, the business earned ($0.17) earnings per share. As a group, equities analysts expect that Legend Biotech Co. will post -1.48 EPS for the current 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).