Y Intercept Hong Kong Ltd Takes $458,000 Position in Legend Biotech Co. (NASDAQ:LEGN)

Y Intercept Hong Kong Ltd purchased a new position in shares of Legend Biotech Co. (NASDAQ:LEGN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,391 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Legend Biotech by 10,075.0% in the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after purchasing an additional 806 shares in the last quarter. AM Squared Ltd purchased a new position in shares of Legend Biotech during the 2nd quarter worth $71,000. Quantbot Technologies LP acquired a new position in shares of Legend Biotech during the 3rd quarter valued at about $148,000. California State Teachers Retirement System grew its holdings in shares of Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after purchasing an additional 2,216 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Legend Biotech during the third quarter worth about $212,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $81.54.

Legend Biotech Stock Performance

Shares of Legend Biotech stock opened at $35.12 on Monday. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -36.97 and a beta of 0.08. 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 business has a 50-day moving average of $42.68 and a 200 day moving average of $47.80. Legend Biotech Co. has a 12 month low of $34.95 and a 12 month high of $70.13.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. During the same quarter last year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter 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 year.

Legend Biotech 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).