BeiGene, Ltd. (NASDAQ:BGNE) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,384 shares of the company’s stock after purchasing an additional 7,122 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of BeiGene worth $12,883,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Raymond James & Associates increased its holdings in BeiGene by 0.4% in the 2nd quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after acquiring an additional 76 shares in the last quarter. Truist Financial Corp raised its position in BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in BeiGene during the third quarter valued at $36,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of BeiGene by 0.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock valued at $21,978,000 after purchasing an additional 266 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Price Performance

Shares of BGNE stock opened at $205.75 on Tuesday. The firm’s 50-day moving average is $212.51 and its two-hundred day moving average is $185.01. BeiGene, Ltd. has a 12 month low of $126.97 and a 12 month high of $248.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The company has a market capitalization of $20.04 billion, a PE ratio of -24.97 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the company posted $2.01 earnings per share. The company’s revenue was up 28.2% on a year-over-year basis. Analysts predict that BeiGene, Ltd. will post -5.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. StockNews.com lowered BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Citigroup upped their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, TD Cowen boosted their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and a consensus target price of $247.07.

Insider Buying and Selling

In related news, insider Xiaodong Wang sold 40,468 shares of BeiGene stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total value of $7,692,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xiaobin Wu sold 500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $200.00, for a total value of $100,000.00. Following the transaction, the chief operating officer now owns 4,500 shares in the company, valued at $900,000. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,845 shares of company stock valued at $11,514,300. 7.43% of the stock is currently owned by insiders.

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.