Legend Biotech Co. (NASDAQ:LEGN) Holdings Cut by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 99.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,912 shares of the company’s stock after selling 1,156,518 shares during the period. TimesSquare Capital Management LLC’s holdings in Legend Biotech were worth $95,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in shares of Legend Biotech by 196.1% in the fourth quarter. New York State Common Retirement Fund now owns 59,276 shares of the company’s stock valued at $1,929,000 after purchasing an additional 39,256 shares during the period. Empire Life Investments Inc. increased its stake in shares of Legend Biotech by 38.5% in the fourth quarter. Empire Life Investments Inc. now owns 136,731 shares of the company’s stock valued at $4,449,000 after purchasing an additional 38,043 shares during the period. Rhumbline Advisers increased its stake in shares of Legend Biotech by 5.9% in the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company’s stock valued at $899,000 after purchasing an additional 1,544 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Legend Biotech by 26.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company’s stock valued at $360,000 after purchasing an additional 2,297 shares during the period. Finally, Exane Asset Management acquired a new stake in shares of Legend Biotech in the fourth quarter valued at approximately $2,284,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Trading Up 1.4 %

Legend Biotech stock opened at $38.75 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -40.79 and a beta of 0.18. Legend Biotech Co. has a 1 year low of $30.17 and a 1 year high of $70.13. The firm’s 50 day moving average price is $34.82 and its two-hundred day moving average price is $43.23.

Analyst Upgrades and Downgrades

LEGN has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $79.50.

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).