Fox Run Management L.L.C. Takes $421,000 Position in Legend Biotech Co. (NASDAQ:LEGN)

Fox Run Management L.L.C. acquired a new position in Legend Biotech Co. (NASDAQ:LEGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,924 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after purchasing an additional 1,579 shares in the last quarter. OFI Invest Asset Management bought a new position in Legend Biotech in the 4th quarter worth approximately $77,000. Quantbot Technologies LP purchased a new position in Legend Biotech in the 3rd quarter valued at approximately $148,000. Blue Trust Inc. raised its holdings in Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after acquiring an additional 5,478 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Legend Biotech during the third quarter worth $229,000. 70.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Morgan Stanley lowered 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. Finally, HC Wainwright boosted their price target on shares of Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Legend Biotech has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Stock Down 3.5 %

LEGN opened at $35.05 on Wednesday. The business’s fifty day simple moving average is $36.25 and its 200 day simple moving average is $39.83. Legend Biotech Co. has a 52 week low of $30.17 and a 52 week high of $60.87. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.44 billion, a PE ratio of -36.89 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.46. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company’s revenue was up 134.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) EPS. As a group, research analysts expect that Legend Biotech Co. will post -1.31 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).