Bank of New York Mellon Corp raised its position in Beigene Ltd (NASDAQ:BGNE) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,734 shares of the company’s stock after acquiring an additional 8,708 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of Beigene worth $14,268,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in BGNE. Lindbrook Capital LLC grew its position in shares of Beigene by 528.6% during the second quarter. Lindbrook Capital LLC now owns 264 shares of the company’s stock worth $50,000 after buying an additional 222 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Beigene during the first quarter worth about $72,000. Marshall Wace North America L.P. purchased a new stake in Beigene during the first quarter worth approximately $76,000. PNC Financial Services Group Inc. lifted its stake in Beigene by 25.8% during the second quarter. PNC Financial Services Group Inc. now owns 444 shares of the company’s stock worth $84,000 after purchasing an additional 91 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Beigene during the first quarter worth approximately $123,000. 56.12% of the stock is owned by institutional investors and hedge funds.
Beigene stock opened at $255.44 on Wednesday. Beigene Ltd has a 12 month low of $114.41 and a 12 month high of $257.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.15 and a quick ratio of 6.09. The business has a 50 day simple moving average of $230.22 and a 200-day simple moving average of $182.60. The stock has a market capitalization of $22.53 billion, a PE ratio of -12.45 and a beta of 1.31.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Thursday, August 6th. The company reported ($4.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($4.78) by $0.47. Beigene had a negative return on equity of 72.94% and a negative net margin of 620.47%. The business had revenue of $65.64 million during the quarter, compared to analysts’ expectations of $50.10 million. As a group, equities research analysts anticipate that Beigene Ltd will post -17.38 EPS for the current year.
Several research firms recently weighed in on BGNE. Morgan Stanley boosted their target price on Beigene from $235.00 to $241.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. ValuEngine upgraded Beigene from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. SVB Leerink boosted their price objective on Beigene from $207.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Piper Sandler boosted their price objective on Beigene from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, BidaskClub cut Beigene from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 24th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $219.11.
In related news, CEO John Oyler sold 14,381 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $187.34, for a total transaction of $2,694,136.54. Following the transaction, the chief executive officer now owns 15,838,617 shares of the company’s stock, valued at $2,967,206,508.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Xiaodong Wang sold 5,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $181.33, for a total value of $906,650.00. Following the transaction, the insider now directly owns 7,330,580 shares in the company, valued at approximately $1,329,254,071.40. The disclosure for this sale can be found here. Insiders have sold 380,892 shares of company stock worth $85,398,452 in the last ninety days. 11.00% of the stock is currently owned by corporate insiders.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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