Capstone Investment Advisors LLC Has $263,000 Stake in Legend Biotech Co. (NASDAQ:LEGN)

Capstone Investment Advisors LLC decreased its position in Legend Biotech Co. (NASDAQ:LEGN) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,399 shares of the company’s stock after selling 1,078 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Legend Biotech were worth $263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Westfield Capital Management Co. LP boosted its stake in Legend Biotech by 5.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock valued at $245,526,000 after purchasing an additional 266,296 shares during the period. Hsbc Holdings PLC increased its position in Legend Biotech by 9.9% during the second quarter. Hsbc Holdings PLC now owns 232,560 shares of the company’s stock worth $10,296,000 after acquiring an additional 20,910 shares during the period. Empire Life Investments Inc. raised its stake in Legend Biotech by 75.2% during the 3rd quarter. Empire Life Investments Inc. now owns 98,688 shares of the company’s stock valued at $4,809,000 after purchasing an additional 42,368 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Legend Biotech by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 177,227 shares of the company’s stock valued at $8,636,000 after purchasing an additional 14,672 shares during the period. Finally, Decheng Capital LLC grew its position in Legend Biotech by 14.1% in the 2nd quarter. Decheng Capital LLC now owns 98,558 shares of the company’s stock worth $4,365,000 after purchasing an additional 12,195 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

NASDAQ LEGN opened at $42.07 on Friday. The firm’s fifty day moving average price is $44.16 and its two-hundred day moving average price is $48.00. Legend Biotech Co. has a 1 year low of $36.92 and a 1 year high of $70.13. The firm has a market capitalization of $7.72 billion, a P/E ratio of -44.28 and a beta of 0.11. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN) last issued its 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. The business had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech’s revenue was up 66.9% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. As a group, research analysts anticipate that Legend Biotech Co. will post -1.23 EPS for the current year.

Analysts Set New Price Targets

LEGN has been the subject of several research reports. Redburn Atlantic started coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Finally, Scotiabank boosted their target price on Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a report on Monday, August 12th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Buy” and a consensus price target of $81.46.

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).