Bamco Inc. NY Has $15.53 Million Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Bamco Inc. NY boosted its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 54.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 276,827 shares of the company’s stock after buying an additional 97,259 shares during the period. Bamco Inc. NY owned approximately 0.15% of Legend Biotech worth $15,527,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LEGN. Wellington Management Group LLP increased its position in Legend Biotech by 71.6% during the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock worth $138,776,000 after acquiring an additional 962,381 shares during the period. Altitude Crest Partners Inc. acquired a new position in shares of Legend Biotech during the fourth quarter valued at about $32,601,000. First Turn Management LLC bought a new stake in shares of Legend Biotech in the fourth quarter valued at about $28,646,000. Westfield Capital Management Co. LP grew its position in Legend Biotech by 26.1% during the first quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock worth $125,629,000 after buying an additional 463,527 shares in the last quarter. Finally, Capital International Investors grew its position in Legend Biotech by 19.5% during the first quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock worth $122,336,000 after buying an additional 356,387 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LEGN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research report on Friday, June 21st. Truist Financial assumed coverage on shares of Legend Biotech in a research note on Monday, June 17th. They issued a “buy” rating and a $88.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Legend Biotech in a research report on Thursday, May 23rd. They set a “buy” rating and a $60.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $90.00 price target on shares of Legend Biotech in a research report on Monday, June 17th. Finally, Scotiabank lifted their price objective on Legend Biotech from $65.00 to $70.00 and gave the company a “sector outperform” rating in a report on Thursday, July 18th. Fourteen investment 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 $81.31.

Legend Biotech Price Performance

Shares of NASDAQ:LEGN traded down $2.53 during midday trading on Friday, reaching $56.61. The company’s stock had a trading volume of 979,061 shares, compared to its average volume of 1,209,367. The business’s fifty day simple moving average is $46.70 and its 200-day simple moving average is $52.71. The company has a market capitalization of $10.32 billion, a P/E ratio of -43.55 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.66 and a quick ratio of 5.57. Legend Biotech Co. has a fifty-two week low of $38.60 and a fifty-two week high of $77.30.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The company had revenue of $93.90 million during the quarter, compared to the consensus estimate of $143.24 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. The company’s revenue was up 158.7% on a year-over-year basis. As a group, equities research analysts expect that Legend Biotech Co. will post -1.94 EPS for the current fiscal 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).