Profund Advisors LLC trimmed its position in Beigene Ltd (NASDAQ:BGNE) by 25.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,197 shares of the company’s stock after selling 2,414 shares during the quarter. Profund Advisors LLC’s holdings in Beigene were worth $892,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BGNE. Capital Investment Advisory Services LLC acquired a new position in Beigene in the 2nd quarter valued at $26,000. Riverhead Capital Management LLC grew its holdings in Beigene by 28.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after buying an additional 100 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Beigene in the 1st quarter valued at $76,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Beigene in the 2nd quarter valued at $202,000. Finally, FDx Advisors Inc. bought a new stake in shares of Beigene during the 2nd quarter valued at $205,000.
Shares of NASDAQ:BGNE traded up $1.68 during trading on Tuesday, reaching $133.69. 10,507 shares of the company traded hands, compared to its average volume of 384,465. The company’s 50 day moving average is $136.79 and its two-hundred day moving average is $130.66. The firm has a market capitalization of $6.37 billion, a PE ratio of -11.02 and a beta of 1.01. The company has a quick ratio of 6.28, a current ratio of 6.46 and a debt-to-equity ratio of 0.15. Beigene Ltd has a 52 week low of $105.19 and a 52 week high of $179.57.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.43) earnings per share for the quarter, topping the consensus estimate of ($3.01) by $1.58. Beigene had a negative return on equity of 38.41% and a negative net margin of 153.32%. The business had revenue of $243.35 million during the quarter, compared to the consensus estimate of $65.58 million. During the same period in the prior year, the company earned ($2.92) EPS. Beigene’s revenue for the quarter was up 360.8% on a year-over-year basis. As a group, research analysts anticipate that Beigene Ltd will post -11.23 EPS for the current year.
In related news, CEO John Oyler sold 3,106 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $126.87, for a total transaction of $394,058.22. Following the completion of the sale, the chief executive officer now directly owns 17,221,155 shares in the company, valued at approximately $2,184,847,934.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Jane Huang sold 430 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $124.52, for a total value of $53,543.60. Following the sale, the chief marketing officer now owns 3 shares of the company’s stock, valued at $373.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,365 shares of company stock valued at $4,478,041. 13.40% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on Beigene from $207.00 to $201.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Maxim Group set a $170.00 target price on Beigene and gave the company a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded Beigene from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Beigene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Beigene in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $181.28.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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