BeiGene, Ltd. (NASDAQ:BGNE) Short Interest Update

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,670,000 shares, a drop of 8.7% from the June 15th total of 1,830,000 shares. Based on an average trading volume of 198,300 shares, the short-interest ratio is currently 8.4 days.

Insiders Place Their Bets

In other news, CFO Julia Aijun Wang sold 472 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.79, for a total value of $233,133.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. Insiders have sold 6,683 shares of company stock valued at $1,056,089 over the last quarter. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of 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. Partners Capital Investment Group LLP purchased a new position in BeiGene in the 4th quarter worth about $2,762,000. Wellington Management Group LLP raised its holdings in BeiGene by 57.4% during the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after buying an additional 20,239 shares during the period. abrdn plc lifted its stake in BeiGene by 1,346.8% during the fourth quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after buying an additional 19,677 shares in the last quarter. Finally, AIA Group Ltd boosted its holdings in shares of BeiGene by 38.9% in the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock worth $2,893,000 after buying an additional 5,181 shares during the period. Institutional investors own 48.55% of the company’s stock.

BeiGene Trading Up 0.3 %

Shares of BeiGene stock traded up $0.46 during trading on Wednesday, hitting $153.38. The stock had a trading volume of 277,443 shares, compared to its average volume of 236,975. The business has a fifty day moving average of $155.72 and a two-hundred day moving average of $156.83. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $225.23. The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.07) by $0.66. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. BeiGene’s revenue was up 67.9% on a year-over-year basis. During the same period in the prior year, the company earned ($3.34) EPS. As a group, analysts anticipate that BeiGene will post -8.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BGNE has been the topic of a number of recent analyst reports. Bank of America cut their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Sanford C. Bernstein lowered their target price on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. TD Cowen boosted their price target on BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and a consensus price target of $250.75.

About BeiGene

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.