Venturi Wealth Management LLC Sells 1,224 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Venturi Wealth Management LLC lowered its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 43.3% during the third quarter, Holdings Channel reports. The fund owned 1,600 shares of the company’s stock after selling 1,224 shares during the period. Venturi Wealth Management LLC’s holdings in BeiGene were worth $359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of BeiGene by 11.5% during the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock valued at $316,862,000 after buying an additional 117,905 shares during the period. Capital International Inc. CA raised its position in shares of BeiGene by 6.0% during the first quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after acquiring an additional 48,615 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of BeiGene during the second quarter valued at $54,412,000. Finally, Capital Group Private Client Services Inc. boosted its holdings in BeiGene by 5.9% in the first quarter. Capital Group Private Client Services Inc. now owns 208,800 shares of the company’s stock valued at $32,654,000 after acquiring an additional 11,579 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BeiGene news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company’s stock.

BeiGene Trading Down 5.6 %

Shares of NASDAQ BGNE opened at $193.64 on Wednesday. BeiGene, Ltd. has a twelve month low of $126.97 and a twelve month high of $248.16. The stock has a market cap of $18.85 billion, a price-to-earnings ratio of -38.12 and a beta of 0.63. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $212.67 and its 200-day moving average is $181.34.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BGNE shares. JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Citigroup raised their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.21.

BeiGene Profile

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.