M&G Plc Cuts Stock Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

M&G Plc trimmed its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,779 shares of the company’s stock after selling 10,277 shares during the quarter. M&G Plc owned approximately 0.19% of BeiGene worth $25,708,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its stake in BeiGene by 7.5% in the 4th quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock worth $291,000 after purchasing an additional 112 shares in the last quarter. AIA Group Ltd boosted its stake in BeiGene by 13.8% during the fourth quarter. AIA Group Ltd now owns 13,316 shares of the company’s stock worth $2,402,000 after buying an additional 1,612 shares during the last quarter. abrdn plc grew its holdings in BeiGene by 1,346.8% in the 4th 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. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of BeiGene in the 4th quarter worth $98,000. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of BeiGene by 9.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock worth $289,000 after acquiring an additional 139 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Bank of America reduced their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.05.

Insider Activity at BeiGene

In other BeiGene news, CEO John Oyler sold 2,789 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.58, for a total transaction of $445,068.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Xiaobin Wu sold 1,459 shares of BeiGene stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Oyler sold 2,789 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.58, for a total value of $445,068.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,517 shares of company stock worth $1,190,004. Corporate insiders own 7.43% of the company’s stock.

BeiGene Price Performance

BGNE stock opened at $187.20 on Wednesday. The business’s fifty day moving average price is $157.66 and its 200 day moving average price is $156.15. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $219.64. The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $18.14 billion, a PE ratio of -24.73 and a beta of 0.59.

BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. BeiGene’s revenue was up 56.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.64) EPS. On average, sell-side analysts anticipate that BeiGene, Ltd. will post -7.76 EPS for the current year.

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.