Aigen Investment Management LP Takes Position in Legend Biotech Co. (NASDAQ:LEGN)

Aigen Investment Management LP bought a new stake in Legend Biotech Co. (NASDAQ:LEGN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,157 shares of the company’s stock, valued at approximately $300,000.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Legend Biotech by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock worth $614,137,000 after purchasing an additional 140,904 shares in the last quarter. RA Capital Management L.P. increased its stake in Legend Biotech by 9.5% during the 1st quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock valued at $384,839,000 after buying an additional 596,390 shares during the period. Capital International Investors increased its stake in Legend Biotech by 19.5% during the 1st quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock valued at $122,336,000 after buying an additional 356,387 shares during the period. Janus Henderson Group PLC raised its position in shares of Legend Biotech by 8.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock worth $112,982,000 after buying an additional 148,855 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Legend Biotech by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,960,709 shares of the company’s stock worth $86,840,000 after acquiring an additional 69,913 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Trading Down 4.3 %

Shares of NASDAQ LEGN opened at $38.19 on Friday. The company has a current ratio of 4.98, a quick ratio of 4.78 and a debt-to-equity ratio of 0.27. Legend Biotech Co. has a one year low of $38.02 and a one year high of $70.13. The business has a 50-day moving average price of $46.01 and a two-hundred day moving average price of $48.23. The firm has a market capitalization of $6.96 billion, a PE ratio of -40.20 and a beta of 0.11.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. The business had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same period last year, the company posted ($0.17) earnings per share. As a group, analysts predict that Legend Biotech Co. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. 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 Tuesday, October 29th. Scotiabank lifted their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a report on Wednesday. Finally, Redburn Atlantic assumed coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $81.46.

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).