SG Americas Securities LLC Increases Stake in Legend Biotech Co. During Q4
SG Americas Securities LLC significantly increased its stake in Legend Biotech Co. during the fourth quarter, as reported in a filing with the Securities and Exchange Commission. The firm now owns over 40,000 shares of the company, valued at approximately $2.4 million. This move aligns with adjustments made by institutional investors and hedge funds, including Lazard Asset Management LLC.
Institutional investors currently hold around 70.89% of Legend Biotech’s stock, indicating a growing interest among professional investors.
Financial Health and Performance Metrics
Legend Biotech’s stock opened at $55.90 with a market capitalization of $9.23 billion. The company has a negative price-to-earnings (P/E) ratio of -37.77 and a low beta of 0.04, signaling lower volatility compared to the market. Debt-to-equity ratio stands at 0.22, with quick and current ratios of 6.83 and 6.92, respectively, indicating strong financial health and liquidity.
Trading History and Recent Financial Results
The 50-day moving average price is $60.75, while the 200-day moving average is $62.28. The stock’s fifty-two week range is from $44.52 to $77.32, showcasing volatility in trading.
Legend Biotech reported a loss of $0.40 per share for the quarter ending March 11th, surpassing the expected loss of $0.70 per share. While the company shows negative return on equity and net margin figures, the quarterly revenue of $76.50 million reflects positive growth.
Analysts’ Outlook and Company Focus
Analysts are optimistic about Legend Biotech’s future performance, with new price targets and ratings indicating a promising outlook. The company specializes in novel cell therapies, with a focus on oncology. Its leading product candidate is LCAR-B38M, a chimeric antigen receptor T-cell therapy for multiple myeloma.
Conclusion
Despite financial challenges, Legend Biotech’s innovative approach to cell therapies and positive revenue growth make it a promising investment opportunity for investors.
Analyst comment
Positive news: SG Americas Securities LLC significantly increased its stake in Legend Biotech Co. during the fourth quarter, demonstrating growing interest among professional investors. The company has a strong financial health and liquidity, with positive revenue growth.
As an analyst, I anticipate that this news will have a positive impact on the market, as it shows institutional investors’ confidence in Legend Biotech and its innovative approach to cell therapies.
