Capital International Sarl Trims Stake in Beigene Ltd (NASDAQ:BGNE)

Capital International Sarl cut its position in shares of Beigene Ltd (NASDAQ:BGNE) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,443 shares of the company’s stock after selling 29,782 shares during the quarter. Beigene accounts for about 2.2% of Capital International Sarl’s investment portfolio, making the stock its 5th largest holding. Capital International Sarl owned about 0.14% of Beigene worth $14,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BGNE. Capital International Investors grew its holdings in Beigene by 28.1% during the fourth quarter. Capital International Investors now owns 4,550,930 shares of the company’s stock worth $754,363,000 after acquiring an additional 998,037 shares during the period. Capital Bank & Trust Co lifted its holdings in shares of Beigene by 2.6% during the 4th quarter. Capital Bank & Trust Co now owns 163,545 shares of the company’s stock valued at $27,109,000 after buying an additional 4,187 shares during the last quarter. Brinker Capital Inc. lifted its holdings in shares of Beigene by 2.0% during the 4th quarter. Brinker Capital Inc. now owns 4,113 shares of the company’s stock valued at $682,000 after buying an additional 82 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Beigene by 23.8% during the 4th quarter. Profund Advisors LLC now owns 7,177 shares of the company’s stock valued at $1,190,000 after buying an additional 1,382 shares during the last quarter. Finally, AXA lifted its holdings in Beigene by 2.6% in the 4th quarter. AXA now owns 28,595 shares of the company’s stock worth $4,740,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.

Shares of BGNE traded up $4.38 on Thursday, reaching $126.22. 235,472 shares of the stock traded hands, compared to its average volume of 541,949. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of -8.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.78 and a quick ratio of 3.69. Beigene Ltd has a 12 month low of $113.01 and a 12 month high of $210.35. The stock’s 50-day moving average price is $155.82 and its 200-day moving average price is $159.16.

Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($6.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.53) by ($1.86). Beigene had a negative net margin of 221.53% and a negative return on equity of 69.41%. The firm had revenue of $56.89 million for the quarter, compared to the consensus estimate of $60.25 million. During the same quarter in the prior year, the firm posted ($4.52) earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Beigene Ltd will post -18.43 earnings per share for the current fiscal year.

Several research analysts have commented on BGNE shares. Guggenheim downgraded Beigene from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Zacks Investment Research downgraded Beigene from a “hold” rating to a “sell” rating in a research report on Monday, January 6th. Morgan Stanley started coverage on Beigene in a research report on Friday, January 17th. They issued an “overweight” rating and a $210.00 price target on the stock. BidaskClub raised Beigene from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Maxim Group dropped their price target on Beigene from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $196.93.

In other Beigene news, insider Xiaodong Wang sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.14, for a total value of $785,700.00. Following the transaction, the insider now owns 7,395,580 shares of the company’s stock, valued at $1,162,141,441.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Jane Huang sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $170.69, for a total value of $256,035.00. Following the completion of the transaction, the chief marketing officer now directly owns 291,667 shares in the company, valued at approximately $49,784,640.23. The disclosure for this sale can be found here. Corporate insiders own 10.70% of the company’s stock.

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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