Janus Henderson Group PLC reduced its position in shares of Beigene Ltd (NASDAQ:BGNE) by 59.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 387,914 shares of the company’s stock after selling 558,250 shares during the period. Janus Henderson Group PLC owned 0.72% of Beigene worth $59,634,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Guggenheim Capital LLC increased its position in Beigene by 11.1% during the first quarter. Guggenheim Capital LLC now owns 5,583 shares of the company’s stock worth $938,000 after purchasing an additional 558 shares during the last quarter. Comerica Bank increased its position in Beigene by 34.4% during the first quarter. Comerica Bank now owns 2,880 shares of the company’s stock worth $495,000 after purchasing an additional 737 shares during the last quarter. TD Asset Management Inc. increased its position in Beigene by 2.9% during the second quarter. TD Asset Management Inc. now owns 28,348 shares of the company’s stock worth $4,356,000 after purchasing an additional 800 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Beigene during the second quarter worth about $135,000. Finally, Virtu Financial LLC acquired a new stake in Beigene during the second quarter worth about $212,000. Hedge funds and other institutional investors own 77.85% of the company’s stock.
In other Beigene news, CMO Amy C. Peterson sold 5,769 shares of Beigene stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $169.12, for a total transaction of $975,653.28. Following the completion of the sale, the chief marketing officer now directly owns 4,661 shares in the company, valued at $788,268.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 5,814,100 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were bought at an average price of $108.00 per share, with a total value of $627,922,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 16,679 shares of company stock valued at $2,808,018. Company insiders own 14.10% of the company’s stock.
BGNE has been the subject of several recent analyst reports. ValuEngine upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Cowen restated a “buy” rating on shares of Beigene in a research report on Friday, June 15th. BidaskClub cut shares of Beigene from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Maxim Group reiterated a “buy” rating and set a $225.00 price target on shares of Beigene in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $187.50.
Shares of BGNE opened at $163.30 on Friday. Beigene Ltd has a 1-year low of $69.00 and a 1-year high of $220.10. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of -73.23 and a beta of 0.59. The company has a quick ratio of 8.10, a current ratio of 8.14 and a debt-to-equity ratio of 0.16.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($2.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.80). Beigene had a negative net margin of 75.19% and a negative return on equity of 24.14%. The company had revenue of $52.80 million for the quarter, compared to analyst estimates of $22.53 million. During the same quarter in the prior year, the business earned ($1.52) earnings per share. Beigene’s revenue was up 5279999900.0% on a year-over-year basis. equities research analysts predict that Beigene Ltd will post -10.74 earnings per share for the current fiscal year.
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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