Barclays PLC Sells 35,663 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Barclays PLC trimmed its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 18.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,350 shares of the company’s stock after selling 35,663 shares during the period. Barclays PLC owned 0.09% of Legend Biotech worth $7,814,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in shares of Legend Biotech during the 3rd quarter valued at approximately $229,000. Groupama Asset Managment boosted its stake in Legend Biotech by 20.2% during the third quarter. Groupama Asset Managment now owns 27,374 shares of the company’s stock worth $1,329,000 after buying an additional 4,592 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Legend Biotech during the third quarter valued at $458,000. XTX Topco Ltd purchased a new stake in shares of Legend Biotech in the third quarter valued at $1,840,000. Finally, State Street Corp raised its stake in shares of Legend Biotech by 0.4% in the third quarter. State Street Corp now owns 1,140,222 shares of the company’s stock valued at $55,563,000 after acquiring an additional 4,735 shares during the period. Institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

LEGN has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $81.54.

Legend Biotech Price Performance

LEGN opened at $34.68 on Wednesday. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -36.51 and a beta of 0.08. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a 12-month low of $32.66 and a 12-month high of $70.13. The business’s fifty day simple moving average is $42.08 and its 200-day simple moving average is $47.69.

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 net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $160.20 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s quarterly revenue was up 66.9% on a year-over-year basis. On average, equities research analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

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).