Assetmark Inc. Boosts Stock Position in BeiGene, Ltd. (NASDAQ:BGNE)

Assetmark Inc. boosted its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,896 shares of the company’s stock after purchasing an additional 1,404 shares during the quarter. Assetmark Inc.’s holdings in BeiGene were worth $2,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in BeiGene by 7,724.1% during the 4th quarter. BNP Paribas Financial Markets now owns 59,307 shares of the company’s stock worth $10,697,000 after purchasing an additional 58,549 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of BeiGene by 57.4% in the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after acquiring an additional 20,239 shares during the last quarter. abrdn plc increased its holdings in shares of BeiGene by 1,346.8% in the 4th quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after acquiring an additional 19,677 shares during the last quarter. FMR LLC increased its holdings in shares of BeiGene by 3.0% in the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after acquiring an additional 69,297 shares during the last quarter. Finally, M&G Investment Management Ltd. increased its holdings in shares of BeiGene by 4.4% in the 4th quarter. M&G Investment Management Ltd. now owns 173,266 shares of the company’s stock valued at $31,188,000 after acquiring an additional 7,325 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,781 shares of company stock worth $10,222,381. 7.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BGNE shares. Guggenheim lowered their price target on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. TD Cowen boosted their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Sanford C. Bernstein lowered their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Bank of America lowered their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their price target on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, BeiGene presently has a consensus rating of “Moderate Buy” and an average price target of $251.93.

BeiGene Stock Performance

NASDAQ:BGNE opened at $152.71 on Friday. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $241.50. 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 business has a 50 day simple moving average of $154.86 and a 200 day simple moving average of $165.28.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.07) by $0.66. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The business had revenue of $751.70 million during the quarter, compared to analyst estimates of $670.09 million. During the same quarter in the previous year, the firm posted ($3.34) EPS. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, equities analysts anticipate that BeiGene, Ltd. will post -8.2 earnings per share for the current 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.