Groupama Asset Managment Increases Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Groupama Asset Managment raised its stake in Legend Biotech Co. (NASDAQ:LEGN) by 64.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,907 shares of the company’s stock after acquiring an additional 17,533 shares during the period. Groupama Asset Managment’s holdings in Legend Biotech were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its position in Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after purchasing an additional 1,579 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Legend Biotech during the fourth quarter valued at approximately $77,000. Quantbot Technologies LP bought a new stake in shares of Legend Biotech during the third quarter valued at approximately $148,000. Blue Trust Inc. raised its holdings in Legend Biotech by 1,513.3% in the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after acquiring an additional 5,478 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Legend Biotech in the 3rd quarter valued at approximately $229,000. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Price Performance

Shares of Legend Biotech stock opened at $33.24 on Thursday. The stock’s fifty day moving average is $36.32 and its 200 day moving average is $39.23. Legend Biotech Co. has a one year low of $30.17 and a one year high of $60.87. 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 stock has a market cap of $6.10 billion, a P/E ratio of -34.99 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. The firm had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business’s quarterly revenue was up 134.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. Sell-side analysts anticipate that Legend Biotech Co. will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Morgan Stanley decreased their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

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).