Janus Henderson Group PLC Has $70.20 Million Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Janus Henderson Group PLC trimmed its stake in Legend Biotech Co. (NASDAQ:LEGN) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,156,749 shares of the company’s stock after selling 28,885 shares during the quarter. Janus Henderson Group PLC owned approximately 1.18% of Legend Biotech worth $70,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of Legend Biotech by 44.7% in the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock valued at $107,706,000 after buying an additional 1,022,365 shares in the last quarter. Braidwell LP lifted its stake in Legend Biotech by 93.2% in the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after acquiring an additional 1,436,400 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Legend Biotech by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company’s stock valued at $69,010,000 after acquiring an additional 84,405 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of Legend Biotech during the 4th quarter worth about $50,493,000. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Legend Biotech by 155.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company’s stock valued at $48,991,000 after purchasing an additional 915,891 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Price Performance

NASDAQ:LEGN opened at $31.08 on Wednesday. Legend Biotech Co. has a 52 week low of $29.27 and a 52 week high of $60.87. 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’s 50-day simple moving average is $33.94 and its 200 day simple moving average is $36.15. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of -32.72 and a beta of 0.20.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and set a $84.00 target price on shares of Legend Biotech in a report on Tuesday, April 22nd. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, Morgan Stanley reduced their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Legend Biotech has an average rating of “Moderate Buy” and an average price target of $78.82.

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).