Harbor Capital Advisors Inc. Has $210,000 Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Harbor Capital Advisors Inc. decreased its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 39.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,441 shares of the company’s stock after selling 4,152 shares during the period. Harbor Capital Advisors Inc.’s holdings in Legend Biotech were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Legend Biotech by 11.4% in the second quarter. Rhumbline Advisers now owns 26,334 shares of the company’s stock worth $1,166,000 after acquiring an additional 2,704 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Legend Biotech by 18.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 11,572 shares of the company’s stock worth $514,000 after purchasing an additional 1,792 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Legend Biotech by 3.7% in 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 purchasing an additional 69,913 shares during the last quarter. E Fund Management Co. Ltd. increased its position in shares of Legend Biotech by 2.4% during the second quarter. E Fund Management Co. Ltd. now owns 58,426 shares of the company’s stock worth $2,588,000 after buying an additional 1,374 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Legend Biotech by 31.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,540 shares of the company’s stock worth $290,000 after buying an additional 1,571 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LEGN. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research note on Tuesday, December 10th. Redburn Atlantic began coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Legend Biotech has an average rating of “Buy” and a consensus price target of $80.62.

Legend Biotech Price Performance

LEGN stock opened at $31.64 on Wednesday. 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 business has a 50-day simple moving average of $37.27 and a two-hundred day simple moving average of $46.30. The company has a market capitalization of $5.78 billion, a P/E ratio of -33.30 and a beta of 0.16. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $70.13.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. The company had revenue of $160.20 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Research analysts expect that Legend Biotech Co. will post -1.23 EPS 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).