Bank of New York Mellon Corp Sells 99 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Bank of New York Mellon Corp lessened its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,299 shares of the company’s stock after selling 99 shares during the quarter. Bank of New York Mellon Corp’s holdings in BeiGene were worth $756,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in BeiGene during the first quarter valued at approximately $50,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of BeiGene by 51.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after acquiring an additional 279 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in BeiGene during the fourth quarter valued at $183,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of BeiGene in the 4th quarter worth $215,000. Finally, Acadian Asset Management LLC grew its position in BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after acquiring an additional 849 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $201.99 on Monday. 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, Ltd. has a 52 week low of $126.97 and a 52 week high of $215.00. The business’s 50 day moving average price is $182.24 and its 200 day moving average price is $164.51. The firm has a market cap of $19.57 billion, a P/E ratio of -26.68 and a beta of 0.61.

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

Insider Transactions at BeiGene

In related news, COO Xiaobin Wu sold 4,500 shares of BeiGene stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $200.14, for a total value of $900,630.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Xiaobin Wu sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $200.14, for a total transaction of $900,630.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 834 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The disclosure for this sale can be found here. Insiders have sold a total of 11,999 shares of company stock valued at $2,282,183 in the last ninety days. 7.43% of the stock is currently owned by corporate 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.