Thrivent Financial for Lutherans Purchases 33,585 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Thrivent Financial for Lutherans increased its position in Legend Biotech Co. (NASDAQ:LEGN) by 38.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,377 shares of the company’s stock after acquiring an additional 33,585 shares during the period. Thrivent Financial for Lutherans’ holdings in Legend Biotech were worth $5,915,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. RA Capital Management L.P. grew its stake in shares of Legend Biotech by 9.5% during the 1st quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock valued at $384,839,000 after purchasing an additional 596,390 shares during the period. Point72 Asset Management L.P. bought a new stake in Legend Biotech during the second quarter valued at approximately $13,487,000. Magnetar Financial LLC purchased a new stake in Legend Biotech during the second quarter valued at approximately $11,146,000. Ally Bridge Group NY LLC bought a new position in Legend Biotech in the second quarter worth approximately $8,637,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Legend Biotech by 8.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock worth $112,982,000 after acquiring an additional 148,855 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

LEGN opened at $40.94 on Friday. 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 market capitalization of $7.46 billion, a price-to-earnings ratio of -43.09 and a beta of 0.11. The company has a fifty day moving average of $44.92 and a 200 day moving average of $48.06. Legend Biotech Co. has a fifty-two week low of $36.92 and a fifty-two week high of $70.13.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm had revenue of $160.20 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 66.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LEGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a research report on Wednesday, November 13th. Scotiabank boosted their price objective on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Finally, Redburn Atlantic started coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Legend Biotech has an average rating of “Buy” and a consensus price target of $81.46.

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).