China Universal Asset Management Co. Ltd. Reduces Stake in BeiGene, Ltd. (NASDAQ:BGNE)

China Universal Asset Management Co. Ltd. lessened its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 37.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,024 shares of the company’s stock after selling 2,967 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in BeiGene were worth $717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in BeiGene during the first quarter valued at approximately $50,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of BeiGene in the 4th quarter worth $98,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of BeiGene during the 4th quarter valued at $183,000. Acadian Asset Management LLC lifted its holdings in shares of BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after acquiring an additional 849 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in BeiGene in the first quarter worth $209,000. 48.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BGNE. TD Cowen raised their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America cut their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.61.

Insider Buying and Selling at BeiGene

In related news, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lai Wang sold 1,064 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.80, for a total transaction of $170,027.20. The disclosure for this sale can be found here. Insiders sold 7,517 shares of company stock valued at $1,190,004 in the last 90 days. Insiders own 7.43% of the company’s stock.

BeiGene Trading Up 0.9 %

Shares of NASDAQ BGNE traded up $1.77 during mid-day trading on Tuesday, hitting $194.27. The stock had a trading volume of 84,201 shares, compared to its average volume of 243,840. The business has a 50 day moving average price of $161.01 and a two-hundred day moving average price of $157.38. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $219.64. 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 firm has a market cap of $18.83 billion, a P/E ratio of -25.66 and a beta of 0.59.

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