EntryPoint Capital LLC Invests $248,000 in Legend Biotech Co. (NASDAQ:LEGN)

EntryPoint Capital LLC bought a new stake in Legend Biotech Co. (NASDAQ:LEGN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,614 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock worth $56,000 after purchasing an additional 1,579 shares during the period. OFI Invest Asset Management acquired a new position in Legend Biotech in the fourth quarter valued at $77,000. Quantbot Technologies LP acquired a new position in Legend Biotech in the third quarter valued at $148,000. Public Employees Retirement System of Ohio acquired a new stake in Legend Biotech during the 3rd quarter worth about $229,000. Finally, Blue Trust Inc. raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

LEGN stock opened at $35.06 on Friday. The company has a market capitalization of $6.44 billion, a P/E ratio of -36.90 and a beta of 0.19. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $60.87. The business has a 50-day simple moving average of $36.44 and a two-hundred day simple moving average of $39.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright upped their target price on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research report on Monday, December 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Morgan Stanley cut their target price on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

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).