Fox Run Management L.L.C. Makes New $421,000 Investment in Legend Biotech Co. (NASDAQ:LEGN)

Fox Run Management L.L.C. acquired a new stake in Legend Biotech Co. (NASDAQ:LEGN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,924 shares of the company’s stock, valued at approximately $421,000.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in Legend Biotech in the fourth quarter worth $599,000. Sei Investments Co. boosted its position in shares of Legend Biotech by 29.1% during the 4th quarter. Sei Investments Co. now owns 66,855 shares of the company’s stock worth $2,175,000 after purchasing an additional 15,058 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Legend Biotech by 280.3% in the 4th quarter. Quantbot Technologies LP now owns 11,532 shares of the company’s stock valued at $375,000 after buying an additional 8,500 shares during the period. Sector Gamma AS increased its position in Legend Biotech by 25.1% in the 4th quarter. Sector Gamma AS now owns 48,495 shares of the company’s stock valued at $1,578,000 after buying an additional 9,733 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Legend Biotech during the 4th quarter worth approximately $2,485,000. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

Shares of Legend Biotech stock opened at $35.05 on Wednesday. The firm has a market capitalization of $6.44 billion, a P/E ratio of -36.89 and a beta of 0.19. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $36.25 and its 200 day simple moving average is $39.83. Legend Biotech Co. has a 12 month low of $30.17 and a 12 month high of $60.87.

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

Wall Street Analysts Forecast Growth

LEGN has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Finally, HC Wainwright upped their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

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).