Hsbc Holdings PLC Sells 33,685 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Hsbc Holdings PLC reduced its holdings in BeiGene, Ltd. (NASDAQ:BGNEFree Report) by 51.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,778 shares of the company’s stock after selling 33,685 shares during the quarter. Hsbc Holdings PLC’s holdings in BeiGene were worth $5,719,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in BeiGene by 7,724.1% in the 4th quarter. BNP Paribas Financial Markets now owns 59,307 shares of the company’s stock worth $10,697,000 after acquiring an additional 58,549 shares during the last quarter. Wellington Management Group LLP increased its position in shares of BeiGene by 57.4% during the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after purchasing an additional 20,239 shares during the last quarter. abrdn plc increased its position in shares of BeiGene by 1,346.8% during the 4th quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after purchasing an additional 19,677 shares during the last quarter. M&G Investment Management Ltd. increased its position in shares of BeiGene by 4.4% during the 4th quarter. M&G Investment Management Ltd. now owns 173,266 shares of the company’s stock valued at $31,188,000 after purchasing an additional 7,325 shares during the last quarter. Finally, FMR LLC increased its position in shares of BeiGene by 3.0% during the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BGNE shares. TD Cowen increased their price objective on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Guggenheim reduced their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Bank of America reduced their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research report on Monday, April 8th. Finally, Sanford C. Bernstein dropped their target price on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.93.

View Our Latest Report on BeiGene

BeiGene Trading Up 6.1 %

NASDAQ BGNE opened at $155.09 on Wednesday. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $229.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. The stock has a 50 day simple moving average of $153.50 and a two-hundred day simple moving average of $162.92. The stock has a market cap of $14.84 billion, a P/E ratio of -20.49 and a beta of 0.60.

BeiGene (NASDAQ:BGNEGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, topping the consensus estimate of ($3.07) by $0.66. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The business had revenue of $751.70 million during the quarter, compared to analysts’ expectations of $670.09 million. During the same quarter last year, the business posted ($3.34) EPS. The business’s revenue was up 67.9% on a year-over-year basis. On average, analysts forecast that BeiGene, Ltd. will post -8.2 earnings per share for the current year.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 37,668 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares in the company, valued at approximately $2,022,694.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.43% of the company’s stock.

BeiGene Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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