Groupama Asset Managment Purchases 17,533 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Groupama Asset Managment grew its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 64.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,907 shares of the company’s stock after purchasing an additional 17,533 shares during the period. Groupama Asset Managment’s holdings in Legend Biotech were worth $1,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its holdings in shares of Legend Biotech by 155.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company’s stock valued at $48,991,000 after purchasing an additional 915,891 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Legend Biotech by 176.0% during the fourth quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company’s stock valued at $32,475,000 after buying an additional 636,390 shares during the last quarter. IvyRock Asset Management HK Ltd increased its holdings in shares of Legend Biotech by 3,827.9% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 267,100 shares of the company’s stock worth $8,691,000 after buying an additional 260,300 shares during the period. Franklin Resources Inc. bought a new stake in shares of Legend Biotech in the 3rd quarter valued at about $12,837,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Legend Biotech during the 4th quarter valued at about $5,611,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Legend Biotech Stock Up 5.5 %

Shares of NASDAQ:LEGN opened at $33.24 on Thursday. The firm has a market capitalization of $6.10 billion, a P/E ratio of -34.99 and a beta of 0.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock has a 50 day moving average price of $36.32 and a 200-day moving average price of $39.23. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $60.87.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on LEGN shares. HC Wainwright boosted their price objective on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Morgan Stanley decreased their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.00.

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).