OFI Invest Asset Management Invests $77,000 in Legend Biotech Co. (NASDAQ:LEGN)

OFI Invest Asset Management bought a new position in shares of Legend Biotech Co. (NASDAQ:LEGN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,435 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Legend Biotech during the third quarter worth about $148,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Legend Biotech during the third quarter worth about $229,000. Blue Trust Inc. increased its stake in shares of Legend Biotech by 1,513.3% during the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after purchasing an additional 5,478 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Legend Biotech during the third quarter worth about $300,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Legend Biotech during the third quarter worth about $306,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $34.03 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -35.82 and a beta of 0.19. The company’s 50-day moving average is $35.38 and its two-hundred day moving average is $41.28. Legend Biotech Co. has a 1-year low of $30.17 and a 1-year high of $69.24.

Analysts Set New Price Targets

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