BeiGene, Ltd. (NASDAQ:BGNE) Stock Holdings Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in BeiGene, Ltd. (NASDAQ:BGNEGet Rating) by 13.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 98,639 shares of the company’s stock after selling 15,832 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BeiGene were worth $18,603,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BGNE. Capital International Investors raised its stake in BeiGene by 11.2% during the 1st quarter. Capital International Investors now owns 7,055,295 shares of the company’s stock valued at $1,337,378,000 after purchasing an additional 711,396 shares during the period. Bridgewater Associates LP raised its stake in BeiGene by 67.3% during the 1st quarter. Bridgewater Associates LP now owns 383,818 shares of the company’s stock valued at $72,388,000 after purchasing an additional 154,335 shares during the period. Zeal Asset Management Ltd raised its stake in BeiGene by 266.3% during the 1st quarter. Zeal Asset Management Ltd now owns 194,838 shares of the company’s stock valued at $38,098,000 after purchasing an additional 141,646 shares during the period. Capital Group International Inc. CA raised its stake in BeiGene by 14.1% during the 1st quarter. Capital Group International Inc. CA now owns 1,140,960 shares of the company’s stock valued at $215,185,000 after purchasing an additional 141,133 shares during the period. Finally, Capital Group Private Client Services Inc. raised its stake in BeiGene by 74.2% during the 1st quarter. Capital Group Private Client Services Inc. now owns 275,197 shares of the company’s stock valued at $51,902,000 after purchasing an additional 117,231 shares during the period. 51.77% of the stock is owned by institutional investors and hedge funds.

BeiGene Trading Down 2.2 %

NASDAQ BGNE opened at $157.09 on Friday. The company has a market capitalization of $16.27 billion, a PE ratio of -7.69 and a beta of 0.65. BeiGene, Ltd. has a 1-year low of $118.18 and a 1-year high of $426.56. The firm’s fifty day simple moving average is $176.23 and its 200-day simple moving average is $168.53. The company has a current ratio of 4.54, a quick ratio of 4.35 and a debt-to-equity ratio of 0.03.

BeiGene (NASDAQ:BGNEGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($5.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.23) by ($1.33). The business had revenue of $341.57 million during the quarter, compared to the consensus estimate of $297.28 million. BeiGene had a negative return on equity of 38.58% and a negative net margin of 187.65%. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -17.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Julia Aijun Wang sold 295 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $158.50, for a total value of $46,757.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Julia Aijun Wang sold 295 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $158.50, for a total value of $46,757.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lai Wang sold 458 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $177.32, for a total transaction of $81,212.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,486 shares of company stock worth $381,508. Corporate insiders own 7.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of BeiGene from $300.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. StockNews.com raised shares of BeiGene from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $296.00 price target on shares of BeiGene in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $299.25.

BeiGene Company Profile

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BeiGene, Ltd., a biotechnology company, focuses on discovering, developing, manufacturing, and commercializing various medicines worldwide. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

Further Reading

Want to see what other hedge funds are holding BGNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BeiGene, Ltd. (NASDAQ:BGNEGet Rating).

Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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