EntryPoint Capital LLC Invests $248,000 in Legend Biotech Co. (NASDAQ:LEGN)

EntryPoint Capital LLC purchased a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) in the fourth quarter, Holdings Channel reports. The firm purchased 7,614 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds have also bought and sold shares of the business. Signaturefd LLC grew its stake in Legend Biotech by 1,052.7% in the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after purchasing an additional 1,579 shares during the period. OFI Invest Asset Management bought a new position in Legend Biotech during the fourth quarter valued at about $77,000. Quantbot Technologies LP purchased a new stake in Legend Biotech during the third quarter worth about $148,000. Blue Trust Inc. raised its position in Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company’s stock worth $190,000 after acquiring an additional 5,478 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Legend Biotech in the third quarter valued at about $229,000. 70.89% of the stock is currently owned by institutional investors.

Legend Biotech Stock Down 0.9 %

Shares of Legend Biotech stock opened at $35.06 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. Legend Biotech Co. has a 52-week low of $30.17 and a 52-week high of $60.87. The company’s 50 day moving average price is $36.44 and its 200-day moving average price is $39.66. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -36.90 and a beta of 0.19.

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

Wall Street Analysts Forecast Growth

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

About Legend Biotech

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).