Is Legend Biotech Corporation (LEGN) A Good Investment?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Legend Biotech Corporation (NASDAQ:LEGN) in the Q3 2022 investor letter. Based in Somerset, New Jersey, Legend Biotech Corporation (NASDAQ:LEGN) is a biopharmaceutical company. On December 23, 2022, Legend Biotech Corporation (NASDAQ:LEGN) stock closed at $49.82 per share. One-month return of Legend Biotech Corporation (NASDAQ:LEGN) was 3.55% and its shares lost 2.26% of their value over the last 52 weeks. Legend Biotech Corporation (NASDAQ:LEGN) has a market capitalization of $8.34 billion.

TimesSquare Capital made the following comment about Legend Biotech Corporation (NASDAQ:LEGN) in its Q3 2022 investor letter:

“New to the strategy this quarter is Legend Biotech Corporation (NASDAQ:LEGN), a clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. The company’s lead product is a CAR-T treatment for multiple myeloma and is currently in joint development/commercialization with Janssen Biotech. Chimeric antigen receptor T cells are genetically engineered for use in immunotherapy.”

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Legend Biotech Corporation (NASDAQ:LEGN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Legend Biotech Corporation (NASDAQ:LEGN) at the end of the third quarter, which was 27 in the previous quarter.

We discussed Legend Biotech Corporation (NASDAQ:LEGN) in another article and shared Meridian Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.