Exome Asset Management LLC Invests $2.29 Million in Legend Biotech Co. (NASDAQ:LEGN)

Exome Asset Management LLC purchased a new stake in Legend Biotech Co. (NASDAQ:LEGN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 47,000 shares of the company’s stock, valued at approximately $2,290,000. Legend Biotech comprises about 1.5% of Exome Asset Management LLC’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LEGN. Avior Wealth Management LLC raised its stake in Legend Biotech by 3.0% during the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after purchasing an additional 323 shares during the period. Public Sector Pension Investment Board raised its position in shares of Legend Biotech by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock valued at $1,093,000 after buying an additional 400 shares during the period. Bridgewater Associates LP lifted its holdings in Legend Biotech by 0.3% in the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock valued at $8,088,000 after acquiring an additional 516 shares during the last quarter. Sei Investments Co. grew its position in Legend Biotech by 1.5% in the second quarter. Sei Investments Co. now owns 46,492 shares of the company’s stock worth $2,059,000 after acquiring an additional 702 shares during the period. Finally, Vanguard Group Inc. increased its stake in Legend Biotech by 0.6% during the first quarter. Vanguard Group Inc. now owns 129,359 shares of the company’s stock worth $7,256,000 after acquiring an additional 738 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

Shares of LEGN opened at $35.12 on Friday. The firm has a 50-day simple moving average of $42.68 and a 200-day simple moving average of $47.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -36.97 and a beta of 0.08. Legend Biotech Co. has a fifty-two week low of $34.95 and a fifty-two week high of $70.13.

Legend Biotech (NASDAQ:LEGN) last released 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. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, equities research analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Cantor Fitzgerald restated an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Finally, Redburn Atlantic began coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target on the stock. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech has an average rating of “Buy” and an average price target of $81.54.

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).