DekaBank Deutsche Girozentrale boosted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN – Get Rating) by 11.8% during the 2nd quarter, Holdings Channel reports. The fund owned 13,845 shares of the company’s stock after buying an additional 1,459 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Legend Biotech were worth $745,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in shares of Legend Biotech in the 2nd quarter valued at about $56,000. Daiwa Securities Group Inc. raised its position in shares of Legend Biotech by 74.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,716 shares of the company’s stock valued at $172,000 after purchasing an additional 2,020 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Legend Biotech in the 1st quarter valued at approximately $220,000. FORA Capital LLC purchased a new position in shares of Legend Biotech in the 1st quarter valued at approximately $269,000. Finally, EFG Asset Management Americas Corp. raised its position in Legend Biotech by 54.4% during the 1st quarter. EFG Asset Management Americas Corp. now owns 7,738 shares of the company’s stock worth $281,000 after buying an additional 2,727 shares during the last quarter. 32.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Guggenheim started coverage on shares of Legend Biotech in a report on Monday. They set a “neutral” rating for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $77.00 target price on shares of Legend Biotech in a research note on Friday, July 8th. Evercore ISI started coverage on shares of Legend Biotech in a research note on Tuesday. They set an “outperform” rating on the stock. Morgan Stanley lowered their target price on shares of Legend Biotech from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Finally, Cowen assumed coverage on Legend Biotech in a report on Tuesday. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.20.
Legend Biotech Stock Down 0.9 %
Shares of LEGN opened at $50.53 on Thursday. The firm has a market cap of $8.29 billion, a P/E ratio of -42.46 and a beta of -0.39. Legend Biotech Co. has a 12-month low of $30.75 and a 12-month high of $57.67. The company’s 50-day moving average price is $43.52 and its 200 day moving average price is $44.93. The company has a current ratio of 3.83, a quick ratio of 3.81 and a debt-to-equity ratio of 0.29.
Legend Biotech Company Profile
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Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma.
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