BeiGene, Ltd. (NASDAQ:BGNE) Short Interest Update

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,000,000 shares, a decline of 11.1% from the August 31st total of 2,250,000 shares. Based on an average trading volume of 279,800 shares, the short-interest ratio is currently 7.1 days.

BeiGene Stock Performance

BeiGene stock traded up $5.89 during mid-day trading on Friday, hitting $218.42. The company had a trading volume of 394,253 shares, compared to its average volume of 249,109. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene has a 12-month low of $126.97 and a 12-month high of $223.96. The company’s fifty day moving average is $187.99 and its 200-day moving average is $166.14. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of -28.85 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last announced its 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. The business had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business’s quarterly revenue was up 56.1% on a year-over-year basis. During the same period in the prior year, the company posted ($3.64) EPS. Equities research analysts predict that BeiGene will post -5.13 EPS for the current year.

Insider Transactions at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Xiaobin Wu sold 5,556 shares of the company’s 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 document filed with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,999 shares of company stock worth $2,282,183. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BGNE. Headlands Technologies LLC acquired a new position in shares of BeiGene during the 1st quarter worth approximately $50,000. Benjamin F. Edwards & Company Inc. raised its stake 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 worth $128,000 after buying an additional 279 shares during the period. Acadian Asset Management LLC raised its stake in shares of BeiGene by 204.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after buying an additional 849 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of BeiGene during the 1st quarter worth approximately $209,000. Finally, Truist Financial Corp raised its stake in shares of BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after buying an additional 140 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America dropped their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Citigroup upped 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 initiated coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.21.

BeiGene Company 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.