AtonRa Partners Sells 1,065 Shares of Legend Biotech Co. (NASDAQ:LEGN)

AtonRa Partners lessened its stake in Legend Biotech Co. (NASDAQ:LEGN) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,847 shares of the company’s stock after selling 1,065 shares during the quarter. AtonRa Partners’ holdings in Legend Biotech were worth $532,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Legend Biotech by 12.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock valued at $125,409,000 after purchasing an additional 212,327 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Legend Biotech by 101.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock valued at $114,761,000 after buying an additional 860,410 shares during the period. Westfield Capital Management Co. LP grew its position in Legend Biotech by 71.6% during the third quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock worth $112,050,000 after buying an additional 696,096 shares in the last quarter. Avidity Partners Management LP raised its holdings in shares of Legend Biotech by 21.0% in the 3rd quarter. Avidity Partners Management LP now owns 967,000 shares of the company’s stock valued at $64,953,000 after acquiring an additional 168,100 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in shares of Legend Biotech by 0.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 923,771 shares of the company’s stock valued at $62,050,000 after acquiring an additional 4,779 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 equities research analysts recently weighed in on the stock. Scotiabank raised shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 target price on the stock in a research note on Wednesday, April 17th. Barclays lifted their price objective on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Legend Biotech in a research report on Tuesday, April 23rd. UBS Group raised their price target on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Raymond James began coverage on Legend Biotech in a research note on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Legend Biotech Trading Down 0.4 %

LEGN stock traded down $0.16 during trading on Monday, hitting $45.14. 963,188 shares of the company traded hands, compared to its average volume of 1,012,700. The company has a 50-day moving average of $58.06 and a 200-day moving average of $60.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. Legend Biotech Co. has a 1 year low of $44.06 and a 1 year high of $77.32. The firm has a market capitalization of $8.21 billion, a PE ratio of -30.50 and a beta of 0.01.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $95.63 million. The business’s revenue was up 177.2% compared to the same quarter last year. Analysts predict that Legend Biotech Co. will post -1.43 earnings per share for the current fiscal 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).