E Fund Management Hong Kong Co. Ltd. Has $1.40 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

E Fund Management Hong Kong Co. Ltd. lowered its stake in Legend Biotech Co. (NASDAQ:LEGN) by 19.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 43,080 shares of the company’s stock after selling 10,630 shares during the period. Legend Biotech makes up 1.1% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 15th largest holding. E Fund Management Hong Kong Co. Ltd.’s holdings in Legend Biotech were worth $1,402,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LEGN. FMR LLC increased its stake in shares of Legend Biotech by 4.0% during the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock worth $893,232,000 after purchasing an additional 708,620 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Legend Biotech by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock valued at $110,868,000 after buying an additional 314,449 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Legend Biotech during the 2nd quarter worth $13,487,000. Westfield Capital Management Co. LP lifted its holdings in shares of Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after buying an additional 266,296 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Legend Biotech in the third quarter valued at about $12,837,000. 70.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LEGN has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, January 21st. Redburn Atlantic assumed coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $79.50.

Legend Biotech Stock Down 2.1 %

NASDAQ:LEGN opened at $36.91 on Monday. Legend Biotech Co. has a twelve month low of $30.17 and a twelve month high of $70.13. 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 simple moving average is $36.37 and its 200 day simple moving average is $45.64.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same period in the previous year, the firm posted ($0.17) EPS. The firm’s revenue was up 66.9% on a year-over-year basis. Equities analysts predict that Legend Biotech Co. will post -1.24 earnings per share for the current fiscal year.

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).