Krane Funds Advisors LLC Purchases 451 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Krane Funds Advisors LLC grew its position in Legend Biotech Co. (NASDAQ:LEGN) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,440 shares of the company’s stock after buying an additional 451 shares during the quarter. Krane Funds Advisors LLC’s holdings in Legend Biotech were worth $1,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEGN. Quarry LP acquired a new position in shares of Legend Biotech in the fourth quarter worth approximately $45,000. Altitude Crest Partners Inc. bought a new stake in Legend Biotech during the fourth quarter valued at $32,601,000. Barometer Capital Management Inc. acquired a new stake in Legend Biotech during the 4th quarter worth about $120,000. Prudential PLC boosted its position in shares of Legend Biotech by 66.8% during the 4th quarter. Prudential PLC now owns 14,856 shares of the company’s stock valued at $894,000 after purchasing an additional 5,949 shares in the last quarter. Finally, NEOS Investment Management LLC acquired a new stake in Legend Biotech during the fourth quarter worth approximately $324,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Price Performance

Legend Biotech stock traded down $1.22 during mid-day trading on Friday, reaching $42.45. The company’s stock had a trading volume of 595,993 shares, compared to its average volume of 1,398,896. The firm’s fifty day moving average price is $45.63 and its two-hundred day moving average price is $55.03. Legend Biotech Co. has a 12-month low of $38.60 and a 12-month high of $77.32. The company has a quick ratio of 5.57, a current ratio of 5.66 and a debt-to-equity ratio of 0.25.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The business had revenue of $93.90 million for the quarter, compared to analyst estimates of $143.24 million. During the same quarter in the prior year, the firm posted ($0.40) EPS. Legend Biotech’s revenue was up 158.7% on a year-over-year basis. As a group, equities analysts forecast that Legend Biotech Co. will post -1.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LEGN. Deutsche Bank Aktiengesellschaft began coverage on shares of Legend Biotech in a research note on Thursday, May 23rd. They set a “buy” rating and a $60.00 target price on the stock. Raymond James initiated coverage on Legend Biotech in a research report on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, June 4th. UBS Group upped their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada lifted their price target on shares of Legend Biotech from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Eleven 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 $80.21.

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).