abrdn plc Sells 5,149 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

abrdn plc decreased its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,919 shares of the company’s stock after selling 5,149 shares during the period. abrdn plc’s holdings in BeiGene were worth $6,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BGNE. Janney Montgomery Scott LLC raised its stake in BeiGene by 63.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,280 shares of the company’s stock worth $357,000 after acquiring an additional 887 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in BeiGene during the 1st quarter worth approximately $209,000. AIA Group Ltd raised its stake in BeiGene by 38.9% during the 1st quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock worth $2,893,000 after acquiring an additional 5,181 shares during the period. Oppenheimer Asset Management Inc. raised its stake in BeiGene by 9.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,124 shares of the company’s stock worth $2,834,000 after acquiring an additional 1,507 shares during the period. Finally, Headlands Technologies LLC bought a new stake in BeiGene during the 1st quarter worth approximately $50,000. Institutional investors own 48.55% of the company’s stock.

BeiGene Trading Up 0.8 %

Shares of BGNE opened at $204.21 on Friday. The company’s fifty day moving average is $211.60 and its 200 day moving average is $178.12. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The stock has a market capitalization of $19.88 billion, a PE ratio of -40.20 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping the consensus estimate of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. During the same quarter in the previous year, the business posted ($3.64) earnings per share. BeiGene’s quarterly revenue was up 56.1% on a year-over-year basis. Sell-side analysts expect that BeiGene, Ltd. will post -5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Citigroup lifted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America reduced 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.21.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,070 shares of company stock worth $4,901,050. 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.