Norges Bank bought a new stake in Beigene Ltd (NASDAQ:BGNE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $607,000. Norges Bank owned 0.06% of Beigene at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Ariose Capital Management Ltd purchased a new position in Beigene during the third quarter worth $1,256,000. Hsbc Holdings PLC purchased a new position in Beigene during the third quarter worth $636,000. Susquehanna International Group LLP purchased a new position in Beigene during the third quarter worth $455,000. Hillhouse Capital Management Ltd. purchased a new position in Beigene during the third quarter worth $21,567,000. Finally, Baker BROS. Advisors LP purchased a new position in Beigene during the third quarter worth $58,930,000. 33.01% of the stock is currently owned by institutional investors and hedge funds.
Beigene Ltd (NASDAQ:BGNE) traded down 0.11% during trading on Friday, reaching $37.42. The company’s stock had a trading volume of 118,879 shares. The stock has a 50-day moving average of $38.27 and a 200 day moving average of $35.40. Beigene Ltd has a one year low of $24.53 and a one year high of $42.09. The firm’s market capitalization is $1.49 billion.
Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.19. The firm had revenue of $1 million for the quarter, compared to the consensus estimate of $3.75 million. During the same period last year, the firm posted ($3.05) EPS. The company’s revenue for the quarter was down 78.6% on a year-over-year basis. On average, equities research analysts predict that Beigene Ltd will post ($5.00) EPS for the current fiscal year.
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BGNE has been the subject of a number of analyst reports. Maxim Group set a $52.00 price target on Beigene and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Zacks Investment Research cut Beigene from a “hold” rating to a “sell” rating in a research report on Monday, March 27th.
In other news, CEO John Oyler sold 31,989 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $39.39, for a total transaction of $1,260,046.71. Following the completion of the transaction, the chief executive officer now directly owns 197,640 shares of the company’s stock, valued at approximately $7,785,039.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Xiaodong Wang sold 38,351 shares of Beigene stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $38.19, for a total transaction of $1,464,624.69. Following the completion of the sale, the director now directly owns 194,495 shares of the company’s stock, valued at $7,427,764.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 316,598 shares of company stock valued at $12,545,905.
Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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