BeiGene, Ltd. (NASDAQ:BGNE – Get Free Report) 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 %
BeiGene (NASDAQ:BGNE – Get Free Report) 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.
Read Our Latest Stock Report on BGNE
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.
See Also
- Five stocks we like better than BeiGene
- ETF Screener: Uses and Step-by-Step Guide
- Real Estate Stock Signals a Boom in Manufacturing Activity
- How to Find Undervalued Stocks
- This Medical Giant’s Stock Rebounds: A 15% Upside Is the Minimum
- Stock Analyst Ratings and Canadian Analyst Ratings
- Financial Giant’s Shares Soar on EPS Beat and Record Asset Levels
Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.com's FREE daily email newsletter.