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

Schroder Investment Management Group increased its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 74.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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’s holdings in Legend Biotech were worth $6,374,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its position in shares of Legend Biotech by 2.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 89,669 shares of the company’s stock worth $2,918,000 after buying an additional 2,223 shares during the period. JPMorgan Chase & Co. grew its holdings in Legend Biotech by 176.0% in the fourth quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company’s stock worth $32,475,000 after purchasing an additional 636,390 shares during the period. Artisan Partners Limited Partnership increased its stake in Legend Biotech by 155.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company’s stock valued at $48,991,000 after purchasing an additional 915,891 shares in the last quarter. IvyRock Asset Management HK Ltd raised its holdings in shares of Legend Biotech by 3,827.9% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 267,100 shares of the company’s stock valued at $8,691,000 after purchasing an additional 260,300 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Legend Biotech during the 4th quarter worth about $248,000. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Price Performance

Shares of NASDAQ LEGN opened at $32.01 on Friday. The company has a market capitalization of $5.88 billion, a PE ratio of -33.69 and a beta of 0.21. 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’s 50 day moving average price is $36.12 and its 200-day moving average price is $39.05. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $60.87.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on LEGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Morgan Stanley dropped their price objective 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 target price 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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).