HighTower Advisors LLC Has $328,000 Stake in Legend Biotech Co. (NASDAQ:LEGN)

HighTower Advisors LLC grew its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 75.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,079 shares of the company’s stock after purchasing an additional 4,325 shares during the quarter. HighTower Advisors LLC’s holdings in Legend Biotech were worth $328,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Legend Biotech in the fourth quarter valued at about $77,000. Quantbot Technologies LP bought a new position in shares of Legend Biotech in the third quarter worth about $148,000. Blue Trust Inc. raised its stake 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 worth $190,000 after acquiring an additional 5,478 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Legend Biotech during the third quarter worth approximately $229,000. Finally, Aigen Investment Management LP grew its stake in shares of Legend Biotech by 19.6% during 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. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Trading Down 7.1 %

LEGN opened at $31.52 on Wednesday. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $60.87. The firm has a market cap of $5.79 billion, a PE ratio of -33.18 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 firm’s fifty day moving average is $36.40 and its two-hundred day moving average is $39.27.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, topping 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 firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same period in the previous year, the company posted ($0.40) earnings per share. The company’s revenue for the quarter was up 134.6% on a year-over-year basis. Equities research analysts anticipate that Legend Biotech Co. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on LEGN. HC Wainwright upped their price objective on Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Piper Sandler restated an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Morgan Stanley dropped 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, March 17th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.00.

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).