AM Squared Ltd Buys Shares of 1,600 Legend Biotech Co. (NASDAQ:LEGN)

AM Squared Ltd bought a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) in the 2nd quarter, Holdings Channel reports. The firm bought 1,600 shares of the company’s stock, valued at approximately $71,000.

Other large investors have also modified their holdings of the company. Swiss National Bank grew its stake in Legend Biotech by 10.3% in the fourth quarter. Swiss National Bank now owns 153,994 shares of the company’s stock worth $9,266,000 after purchasing an additional 14,400 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in Legend Biotech by 21.1% in the fourth quarter. E Fund Management Co. Ltd. now owns 63,897 shares of the company’s stock worth $3,845,000 after purchasing an additional 11,138 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Legend Biotech by 15.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,065,889 shares of the company’s stock worth $64,135,000 after purchasing an additional 142,118 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Legend Biotech by 23.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,601 shares of the company’s stock worth $879,000 after purchasing an additional 2,752 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Legend Biotech by 157.3% in the fourth quarter. Jump Financial LLC now owns 121,481 shares of the company’s stock worth $7,310,000 after purchasing an additional 74,272 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LEGN shares. Piper Sandler reissued an “overweight” rating and issued a $90.00 price objective on shares of Legend Biotech in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft began coverage on Legend Biotech in a report on Thursday, May 23rd. They set a “buy” rating and a $60.00 target price for the company. TD Cowen lowered their target price on Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 15th. Truist Financial began coverage on Legend Biotech in a report on Monday, June 17th. They set a “buy” rating and a $88.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, August 12th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $81.78.

Legend Biotech Stock Performance

LEGN stock traded up $0.84 during midday trading on Friday, reaching $57.55. The stock had a trading volume of 561,890 shares, compared to its average volume of 629,280. The stock has a market cap of $10.49 billion, a PE ratio of -44.27 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. The firm has a fifty day simple moving average of $53.52 and a two-hundred day simple moving average of $52.39. Legend Biotech Co. has a 52-week low of $38.60 and a 52-week high of $72.38.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. The company had revenue of $186.50 million during the quarter, compared to analyst estimates of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm’s quarterly revenue was up 154.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. As a group, equities research analysts anticipate that Legend Biotech Co. will post -1.56 EPS for the current 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).