Schroder Investment Management Group Has $6.37 Million Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Schroder Investment Management Group raised its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 74.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,508 shares of the company’s stock after purchasing an additional 83,191 shares during the period. Schroder Investment Management Group owned approximately 0.11% of Legend Biotech worth $6,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Signaturefd LLC increased its position 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 during the period. OFI Invest Asset Management acquired a new position in shares of Legend Biotech in the 4th quarter valued at approximately $77,000. Quantbot Technologies LP bought a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $148,000. Blue Trust Inc. boosted its position in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after acquiring an additional 5,478 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Legend Biotech in the third quarter valued at approximately $229,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN opened at $32.01 on Friday. The firm has a market cap of $5.88 billion, a PE ratio of -33.69 and a beta of 0.21. Legend Biotech Co. has a 52 week low of $30.17 and a 52 week high of $60.87. The firm’s fifty day moving average is $36.12 and its 200-day moving average is $39.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LEGN shares. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley decreased their target price on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Piper Sandler restated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. HC Wainwright upped their price objective on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Legend Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

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).