E Fund Management Co. Ltd. Reduces Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

E Fund Management Co. Ltd. decreased its position in Legend Biotech Co. (NASDAQ:LEGN) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,322 shares of the company’s stock after selling 3,423 shares during the period. E Fund Management Co. Ltd. owned about 0.06% of Legend Biotech worth $3,687,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Candriam S.C.A. lifted its stake in Legend Biotech by 7.5% in the fourth quarter. Candriam S.C.A. now owns 393,452 shares of the company’s stock valued at $12,803,000 after purchasing an additional 27,465 shares during the last quarter. Aigen Investment Management LP lifted its stake in Legend Biotech by 19.6% in the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company’s stock valued at $240,000 after purchasing an additional 1,206 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Legend Biotech in the fourth quarter valued at approximately $5,611,000. Bank of New York Mellon Corp lifted its stake in Legend Biotech by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 131,416 shares of the company’s stock valued at $4,276,000 after purchasing an additional 14,588 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its stake in Legend Biotech by 143.3% in the fourth quarter. Alberta Investment Management Corp now owns 135,259 shares of the company’s stock valued at $4,401,000 after purchasing an additional 79,663 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LEGN. HC Wainwright reissued a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a report on Tuesday, January 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. 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. Finally, Piper Sandler reissued an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a report on Monday, December 30th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $79.50.

Legend Biotech Stock Down 1.5 %

LEGN stock opened at $34.18 on Friday. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $69.24. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -35.98 and a beta of 0.19. 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’s 50 day moving average is $35.30 and its 200 day moving average is $41.81.

Legend Biotech 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).