First Trust Direct Indexing L.P. Lowers Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

First Trust Direct Indexing L.P. cut its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 13.4% in the fourth quarter, Holdings Channel reports. The fund owned 2,808 shares of the company’s stock after selling 433 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in BeiGene were worth $506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of BeiGene by 17.9% in the 3rd quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock valued at $696,384,000 after purchasing an additional 588,294 shares in the last quarter. FMR LLC increased its holdings in BeiGene by 3.0% during the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after buying an additional 69,297 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in BeiGene by 13.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 107,694 shares of the company’s stock worth $19,371,000 after buying an additional 12,910 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of BeiGene by 91.9% during the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock worth $18,033,000 after purchasing an additional 48,018 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in BeiGene by 1.0% in the third quarter. Van ECK Associates Corp now owns 98,150 shares of the company’s stock worth $17,654,000 after purchasing an additional 957 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

BeiGene Stock Performance

BGNE opened at $162.25 on Monday. The firm has a fifty day moving average price of $155.54 and a 200 day moving average price of $166.55. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $263.15. The stock has a market cap of $15.52 billion, a P/E ratio of -19.09 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $632.52 million. During the same quarter in the prior year, the firm posted ($4.29) earnings per share. The company’s revenue was up 66.9% compared to the same quarter last year. Equities research analysts anticipate that BeiGene, Ltd. will post -8.9 earnings per share for the current year.

Insider Buying and Selling at BeiGene

In other news, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the sale, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,781 shares of company stock valued at $10,222,381. Company insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

BGNE has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. Guggenheim reduced their target price on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price target on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Bank of America cut their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a report on Monday, April 8th. Finally, TD Cowen raised their price objective on BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $250.13.

BeiGene Company Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; 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; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.