Polymer Capital Management HK LTD Has $935,000 Stake in Legend Biotech Co. (NASDAQ:LEGN)

Polymer Capital Management HK LTD reduced its stake in Legend Biotech Co. (NASDAQ:LEGN) by 31.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,727 shares of the company’s stock after selling 13,100 shares during the period. Polymer Capital Management HK LTD’s holdings in Legend Biotech were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Legend Biotech during the 4th quarter valued at $6,209,000. Quadrant Capital Group LLC raised its position in Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock valued at $124,000 after purchasing an additional 3,738 shares in the last quarter. Aviva PLC raised its position in Legend Biotech by 3.6% during the fourth quarter. Aviva PLC now owns 48,300 shares of the company’s stock valued at $1,572,000 after purchasing an additional 1,700 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Legend Biotech during the fourth quarter worth $568,000. Finally, Prudential PLC lifted its position in shares of Legend Biotech by 47.5% during the 4th quarter. Prudential PLC now owns 39,566 shares of the company’s stock worth $1,287,000 after buying an additional 12,744 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

LEGN has been the subject of a number of research reports. HC Wainwright increased their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Morgan Stanley decreased their target price on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Legend Biotech has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Trading Down 2.6 %

NASDAQ LEGN opened at $32.01 on Monday. The business’s 50-day moving average price is $36.12 and its two-hundred day moving average price is $38.89. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.88 billion, a PE ratio of -33.69 and a beta of 0.21. Legend Biotech Co. has a 12 month low of $29.28 and a 12 month high of $60.87.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company’s revenue for the quarter was up 134.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. On average, analysts expect that Legend Biotech Co. will post -1.31 EPS for the current 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).