Candriam S.C.A. grew its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 393,452 shares of the company's stock after purchasing an additional 27,465 shares during the period. Candriam S.C.A. owned about 0.22% of Legend Biotech worth $12,803,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Legend Biotech in the third quarter valued at $148,000. Blue Trust Inc. boosted its position in Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after acquiring an additional 5,478 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Legend Biotech during the 3rd quarter worth about $229,000. Aigen Investment Management LP grew its stake in Legend Biotech by 19.6% during the fourth quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock worth $240,000 after buying an additional 1,206 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Legend Biotech during the third quarter worth $306,000. Institutional investors and hedge funds own 70.89% of the company's stock.
LEGN has been the subject of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $83.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Finally, HC Wainwright reissued a "buy" rating and set a $73.00 price target on shares of Legend Biotech in a report on Tuesday, January 21st. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $79.50.
View Our Latest Stock Analysis on LEGN
Shares of LEGN traded up $1.08 during mid-day trading on Friday, hitting $35.26. The company's stock had a trading volume of 1,247,146 shares, compared to its average volume of 1,181,701. Legend Biotech Co. has a one year low of $30.17 and a one year high of $69.24. The stock's 50-day moving average is $35.36 and its two-hundred day moving average is $41.66. The firm has a market capitalization of $6.44 billion, a PE ratio of -37.12 and a beta of 0.19. 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 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).
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