Hsbc Holdings PLC Decreases Stock Position in BeiGene, Ltd. (NASDAQ:BGNE)

Hsbc Holdings PLC decreased its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 36.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,181 shares of the company’s stock after selling 14,013 shares during the period. Hsbc Holdings PLC’s holdings in BeiGene were worth $3,448,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BGNE. Headlands Technologies LLC purchased a new position in BeiGene during the 1st quarter valued at approximately $50,000. Benjamin F. Edwards & Company Inc. increased its position in BeiGene by 51.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after purchasing an additional 279 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in BeiGene during the fourth quarter valued at $215,000. Acadian Asset Management LLC lifted its position in BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after purchasing an additional 849 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of BeiGene in the 1st quarter worth $209,000. 48.55% of the stock is owned by institutional investors.

BeiGene Stock Performance

BGNE stock opened at $206.72 on Thursday. BeiGene, Ltd. has a twelve month low of $126.97 and a twelve month high of $215.00. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of -27.31 and a beta of 0.61. The business’s fifty day simple moving average is $185.50 and its two-hundred day simple moving average is $165.44. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm’s revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.64) EPS. Analysts predict that BeiGene, Ltd. will post -5.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup boosted their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JMP Securities began coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Finally, Bank of America cut their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $241.21.

Insider Activity

In related news, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,999 shares of company stock valued at $2,282,183. Corporate insiders own 7.43% of the company’s stock.

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.