Wells Fargo & Company MN Decreases Stock Holdings in Beigene Ltd (NASDAQ:BGNE)

Wells Fargo & Company MN decreased its stake in shares of Beigene Ltd (NASDAQ:BGNE) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,556 shares of the company’s stock after selling 951 shares during the period. Wells Fargo & Company MN owned about 0.07% of Beigene worth $6,594,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aviva PLC increased its position in Beigene by 8.4% during the first quarter. Aviva PLC now owns 16,862 shares of the company’s stock valued at $2,076,000 after acquiring an additional 1,304 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Beigene by 208.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 28,132 shares of the company’s stock valued at $3,463,000 after purchasing an additional 19,005 shares during the period. Bank of America Corp DE increased its position in shares of Beigene by 26.2% during the 4th quarter. Bank of America Corp DE now owns 214,277 shares of the company’s stock valued at $35,518,000 after purchasing an additional 44,551 shares during the last quarter. State Street Corp lifted its stake in shares of Beigene by 11.0% in the 1st quarter. State Street Corp now owns 848,980 shares of the company’s stock worth $104,518,000 after purchasing an additional 84,190 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Beigene by 4.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,997 shares of the company’s stock worth $492,000 after purchasing an additional 158 shares during the period. Institutional investors own 63.78% of the company’s stock.

Shares of Beigene stock opened at $188.40 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.89 and a current ratio of 7.96. The stock’s 50-day simple moving average is $171.15 and its 200-day simple moving average is $160.73. Beigene Ltd has a 52 week low of $114.41 and a 52 week high of $210.35.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($4.70) EPS for the quarter, topping the Zacks’ consensus estimate of ($4.85) by $0.15. Beigene had a negative return on equity of 68.64% and a negative net margin of 284.45%. The company had revenue of $52.06 million for the quarter, compared to analysts’ expectations of $27.00 million. Research analysts predict that Beigene Ltd will post -19.99 EPS for the current fiscal year.

In other news, Director Donald W. Glazer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $169.84, for a total transaction of $1,698,400.00. Following the completion of the transaction, the director now owns 3,497,678 shares in the company, valued at $594,045,631.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 14,381 shares of Beigene stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $187.34, for a total value of $2,694,136.54. Following the completion of the sale, the chief executive officer now directly owns 15,838,617 shares in the company, valued at $2,967,206,508.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,719 shares of company stock worth $11,001,393. Company insiders own 11.00% of the company’s stock.

A number of brokerages have commented on BGNE. Morgan Stanley upped their target price on shares of Beigene from $184.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. SVB Leerink upped their price objective on Beigene from $207.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. BidaskClub raised Beigene from a “buy” rating to a “strong-buy” rating in a report on Friday, June 26th. ValuEngine raised Beigene from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Finally, Macquarie raised Beigene from an “underperform” rating to a “neutral” rating in a research note on Friday, March 13th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $200.73.

Beigene Company Profile

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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Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

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