BeiGene, Ltd. (NASDAQ:BGNE) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. reduced its stake in BeiGene, Ltd. (NASDAQ:BGNE) by 11.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,323 shares of the company’s stock after selling 2,700 shares during the quarter. Macquarie Group Ltd.’s holdings in BeiGene were worth $4,596,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of BeiGene by 26.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock valued at $54,000 after buying an additional 51 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in BeiGene by 4.3% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 1,641 shares of the company’s stock worth $354,000 after purchasing an additional 68 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in BeiGene by 18.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 577 shares of the company’s stock worth $124,000 after purchasing an additional 91 shares during the period. First Republic Investment Management Inc. boosted its stake in BeiGene by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 5,429 shares of the company’s stock worth $1,170,000 after purchasing an additional 95 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in BeiGene by 0.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,385 shares of the company’s stock worth $2,454,000 after purchasing an additional 97 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Trading Up 0.9 %

Shares of BGNE stock opened at $200.32 on Monday. BeiGene, Ltd. has a fifty-two week low of $124.46 and a fifty-two week high of $280.62. The stock has a market cap of $19.40 billion, a P/E ratio of -12.02 and a beta of 0.71. The business has a fifty day simple moving average of $200.04 and a 200-day simple moving average of $217.20. The company has a quick ratio of 2.90, a current ratio of 3.13 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.47) by ($0.17). BeiGene had a negative net margin of 95.67% and a negative return on equity of 40.78%. The firm had revenue of $595.30 million during the quarter, compared to analysts’ expectations of $501.07 million. During the same quarter in the prior year, the business earned ($5.56) EPS. The company’s quarterly revenue was up 74.3% compared to the same quarter last year. On average, analysts forecast that BeiGene, Ltd. will post -12.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of BeiGene from $321.00 to $319.00 and set an “overweight” rating for the company in a research note on Tuesday, August 29th. Royal Bank of Canada initiated coverage on shares of BeiGene in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $259.00 target price for the company. Sanford C. Bernstein cut shares of BeiGene from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $335.00 to $196.00 in a research note on Friday, June 30th. JPMorgan Chase & Co. raised their target price on shares of BeiGene from $297.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Finally, Jefferies Financial Group initiated coverage on shares of BeiGene in a research note on Thursday, August 17th. They issued a “buy” rating and a $287.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and a consensus target price of $276.25.

Insider Activity

In other news, insider Lai Wang sold 1,325 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $192.42, for a total value of $254,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Lai Wang sold 1,325 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $192.42, for a total transaction of $254,956.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Xiaobin Wu sold 1,495 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $182.37, for a total value of $272,643.15. The disclosure for this sale can be found here. Insiders sold a total of 6,609 shares of company stock worth $1,243,951 over the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

BeiGene Profile

BeiGene, Ltd., a biotechnology company, develops and commercializes oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; Tislelizumab to treat various solid tumor and blood cancers; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumor malignancies; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).