Capital Bank & Trust Co lifted its position in shares of Beigene Ltd (NASDAQ:BGNE) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,545 shares of the company’s stock after acquiring an additional 4,187 shares during the quarter. Capital Bank & Trust Co owned approximately 0.27% of Beigene worth $27,109,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGNE. First Quadrant L P CA bought a new position in shares of Beigene during the fourth quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Beigene by 112.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 364 shares of the company’s stock worth $60,000 after buying an additional 193 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Beigene in the 1st quarter valued at about $76,000. Vestcor Investment Management Corp bought a new stake in shares of Beigene in the 4th quarter valued at about $96,000. Finally, Quantbot Technologies LP bought a new stake in shares of Beigene in the 4th quarter valued at about $132,000. 75.47% of the stock is currently owned by institutional investors.
In other news, CMO Jane Huang sold 1,500 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $170.69, for a total transaction of $256,035.00. Following the transaction, the chief marketing officer now owns 291,667 shares of the company’s stock, valued at approximately $49,784,640.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Xiaodong Wang sold 5,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $157.14, for a total transaction of $785,700.00. Following the transaction, the insider now directly owns 7,395,580 shares in the company, valued at approximately $1,162,141,441.20. The disclosure for this sale can be found here. 10.70% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on BGNE shares. Morgan Stanley started coverage on Beigene in a research note on Friday, January 17th. They issued an “overweight” rating and a $210.00 price objective on the stock. Guggenheim downgraded shares of Beigene from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Cowen restated a “buy” rating and set a $200.00 price target on shares of Beigene in a report on Tuesday, March 3rd. Piper Jaffray Companies lowered shares of Beigene from an “overweight” rating to a “neutral” rating and set a $165.00 price objective on the stock. in a research note on Monday, December 16th. Finally, BidaskClub upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Beigene has a consensus rating of “Buy” and an average target price of $196.93.
BGNE traded up $2.76 during trading on Thursday, hitting $124.60. The company’s stock had a trading volume of 10,855 shares, compared to its average volume of 541,949. The firm has a market capitalization of $7.94 billion, a P/E ratio of -7.98 and a beta of 0.98. Beigene Ltd has a twelve month low of $113.01 and a twelve month high of $210.35. The stock’s fifty day moving average price is $155.82 and its 200-day moving average price is $159.16. The company has a quick ratio of 3.69, a current ratio of 3.78 and a debt-to-equity ratio of 0.25.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($6.39) EPS for the quarter, missing the consensus estimate of ($4.53) by ($1.86). Beigene had a negative return on equity of 69.41% and a negative net margin of 221.53%. The company had revenue of $56.89 million for the quarter, compared to analyst estimates of $60.25 million. During the same period last year, the business earned ($4.52) EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that Beigene Ltd will post -18.43 EPS for the current fiscal year.
Beigene Company Profile
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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