Norges Bank Acquires Shares of 20,000 Beigene Ltd (BGNE)

Norges Bank acquired a new stake in shares of Beigene Ltd (NASDAQ:BGNE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the company’s stock, valued at approximately $607,000. Norges Bank owned 0.06% of Beigene as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new position in Beigene during the third quarter valued at $455,000. Hsbc Holdings PLC acquired a new position in Beigene during the third quarter valued at $636,000. Guggenheim Capital LLC acquired a new position in Beigene during the fourth quarter valued at $670,000. State Street Corp raised its position in Beigene by 6.0% in the fourth quarter. State Street Corp now owns 33,769 shares of the company’s stock valued at $1,025,000 after buying an additional 1,917 shares during the last quarter. Finally, Ariose Capital Management Ltd acquired a new position in Beigene during the third quarter valued at $1,256,000. Institutional investors and hedge funds own 33.01% of the company’s stock.

Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

Shares of Beigene Ltd (NASDAQ:BGNE) opened at 37.94 on Wednesday. The stock’s 50 day moving average price is $38.03 and its 200 day moving average price is $35.13. Beigene Ltd has a 1-year low of $24.53 and a 1-year high of $42.09. The company’s market cap is $1.51 billion.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported ($1.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.19. The business had revenue of $1 million for the quarter, compared to analysts’ expectations of $3.75 million. The business’s revenue was down 78.6% on a year-over-year basis. During the same period last year, the business posted ($3.05) EPS. Equities research analysts forecast that Beigene Ltd will post ($4.24) earnings per share for the current year.

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BGNE has been the topic of several research reports. Maxim Group set a $52.00 target price on Beigene and gave the stock a “buy” rating in a research report on Saturday, March 11th. Zacks Investment Research lowered Beigene from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th.

In other news, Director Xiaodong Wang sold 11,650 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $36.83, for a total transaction of $429,069.50. Following the completion of the sale, the director now owns 81,194 shares in the company, valued at approximately $2,990,375.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 108,999 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $40.91, for a total transaction of $4,459,149.09. Following the sale, the chief executive officer now owns 273,385 shares of the company’s stock, valued at approximately $11,184,180.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 381,561 shares of company stock valued at $15,180,155.

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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