Parametrica Management Ltd Takes $710,000 Position in Legend Biotech Co. (NASDAQ:LEGN)

Parametrica Management Ltd acquired a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,800 shares of the company’s stock, valued at approximately $710,000. Legend Biotech makes up 1.2% of Parametrica Management Ltd’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors have also modified their holdings of LEGN. AE Wealth Management LLC lifted its holdings in shares of Legend Biotech by 4.9% during the 3rd quarter. AE Wealth Management LLC now owns 7,065 shares of the company’s stock valued at $475,000 after purchasing an additional 328 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Legend Biotech by 17.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,000 shares of the company’s stock valued at $2,149,000 after acquiring an additional 4,700 shares in the last quarter. BluePath Capital Management LLC bought a new stake in Legend Biotech in the 3rd quarter valued at approximately $32,000. Mackenzie Financial Corp lifted its stake in Legend Biotech by 1,285.7% in the 3rd quarter. Mackenzie Financial Corp now owns 128,965 shares of the company’s stock valued at $8,352,000 after acquiring an additional 119,658 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Legend Biotech in the 3rd quarter valued at approximately $323,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of LEGN stock traded up $0.88 during trading on Friday, reaching $45.30. 895,893 shares of the company’s stock were exchanged, compared to its average volume of 1,054,547. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.24 billion, a PE ratio of -30.61 and a beta of 0.01. Legend Biotech Co. has a twelve month low of $44.06 and a twelve month high of $77.32. The firm’s fifty day moving average price is $58.06 and its 200-day moving average price is $60.14.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.30. The business had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. Legend Biotech’s revenue was up 177.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Legend Biotech Co. will post -1.43 EPS for the current year.

Analyst Ratings Changes

LEGN has been the topic of several research reports. Raymond James initiated coverage on Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 target price on the stock. Cantor Fitzgerald initiated coverage on Legend Biotech in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 target price on the stock. Barclays boosted their target price on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. UBS Group boosted their target price on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Legend Biotech in a research note on Tuesday. One 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 company presently has an average rating of “Moderate Buy” and an average target price of $82.64.

Legend Biotech 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).