Skandinaviska Enskilda Banken AB publ cut its stake in shares of Legend Biotech Co. (NASDAQ:LEGN – Free Report) by 74.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,100 shares of the company’s stock after selling 9,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Legend Biotech were worth $102,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of LEGN. OFI Invest Asset Management acquired a new stake in shares of Legend Biotech in the fourth quarter valued at about $77,000. Quantbot Technologies LP acquired a new stake in shares of Legend Biotech in the third quarter valued at about $148,000. Blue Trust Inc. raised its position in shares of Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after buying an additional 5,478 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Legend Biotech in the third quarter valued at about $229,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock valued at $238,000 after buying an additional 835 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.
Legend Biotech Trading Down 0.2 %
Shares of LEGN stock opened at $37.88 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market cap of $6.92 billion, a PE ratio of -39.87 and a beta of 0.19. The company has a 50-day moving average of $35.83 and a two-hundred day moving average of $40.47. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $64.28.
Analyst Ratings Changes
A number of equities research analysts have recently commented on LEGN shares. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Morgan Stanley reduced their target price on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright upped their price objective on shares of Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. One 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, Legend Biotech currently has an average rating of “Moderate Buy” and an average price target of $79.00.
Get Our Latest Stock Analysis on Legend Biotech
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).
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