E Fund Management Co. Ltd. Cuts Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

E Fund Management Co. Ltd. trimmed its position in shares of Legend Biotech Co. (NASDAQ:LEGN) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 113,322 shares of the company’s stock after selling 3,423 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Legend Biotech were worth $3,687,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LEGN. Quantbot Technologies LP bought a new position in Legend Biotech during the third quarter valued at approximately $148,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Legend Biotech in the 3rd quarter valued at $229,000. Blue Trust Inc. grew its holdings in shares of Legend Biotech by 1,513.3% during the 4th quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock valued at $190,000 after purchasing an additional 5,478 shares during the last quarter. Aigen Investment Management LP purchased a new position in Legend Biotech in the 3rd quarter worth $300,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Legend Biotech in the third quarter worth $306,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $34.18 on Friday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -35.98 and a beta of 0.19. The stock has a fifty day moving average of $35.30 and a 200 day moving average of $41.81. Legend Biotech Co. has a 52 week low of $30.17 and a 52 week high of $69.24. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LEGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 price objective 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 target on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Finally, HC Wainwright reissued a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 21st. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $79.50.

About Legend Biotech

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).