AtonRa Partners Has $532,000 Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

AtonRa Partners lowered its position in Legend Biotech Co. (NASDAQ:LEGN) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,847 shares of the company’s stock after selling 1,065 shares during the period. AtonRa Partners’ holdings in Legend Biotech were worth $532,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LEGN. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Legend Biotech by 15.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 163,130 shares of the company’s stock valued at $9,816,000 after purchasing an additional 22,376 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Legend Biotech by 101.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock worth $114,761,000 after acquiring an additional 860,410 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Legend Biotech by 71.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock worth $112,050,000 after acquiring an additional 696,096 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Legend Biotech in the third quarter valued at approximately $974,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Legend Biotech by 12.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock worth $125,409,000 after purchasing an additional 212,327 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group upped their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. Raymond James began coverage on shares of Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. Scotiabank raised shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price objective for the company in a research report on Wednesday, April 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $87.00 target price on shares of Legend Biotech in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.64.

Legend Biotech Stock Performance

Shares of LEGN traded down $0.16 during mid-day trading on Monday, hitting $45.14. 963,188 shares of the company’s stock were exchanged, compared to its average volume of 1,012,700. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of -30.50 and a beta of 0.01. The stock’s 50-day simple moving average is $58.06 and its 200-day simple moving average is $60.05. Legend Biotech Co. has a 52 week low of $44.06 and a 52 week high of $77.32.

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. The firm had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. Legend Biotech’s quarterly revenue was up 177.2% compared to the same quarter last year. On average, equities research analysts expect that Legend Biotech Co. will post -1.43 EPS for the current 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).