M&G Investment Management Ltd. Cuts Stake in BeiGene, Ltd. (NASDAQ:BGNE)

M&G Investment Management Ltd. lowered its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 58.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,630 shares of the company’s stock after selling 15,016 shares during the quarter. M&G Investment Management Ltd.’s holdings in BeiGene were worth $3,699,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of BeiGene by 35.0% in the 4th quarter. Parallel Advisors LLC now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 35 shares during the last quarter. US Bancorp DE lifted its stake in shares of BeiGene by 2.2% in the 4th quarter. US Bancorp DE now owns 2,335 shares of the company’s stock valued at $603,000 after purchasing an additional 50 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of BeiGene by 1.9% in the 1st quarter. FDx Advisors Inc. now owns 2,873 shares of the company’s stock valued at $1,000,000 after purchasing an additional 54 shares during the last quarter. The PNC Financial Services Group Inc. lifted its stake in shares of BeiGene by 11.1% in the 1st quarter. The PNC Financial Services Group Inc. now owns 539 shares of the company’s stock valued at $188,000 after purchasing an additional 54 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in shares of BeiGene by 9.8% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 781 shares of the company’s stock valued at $202,000 after purchasing an additional 70 shares during the last quarter. 61.50% of the stock is owned by institutional investors.

In related news, insider Xiaodong Wang sold 3,394 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $300.46, for a total transaction of $1,019,761.24. Following the transaction, the insider now directly owns 5,747,271 shares in the company, valued at approximately $1,726,825,044.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Jane Huang sold 1,500 shares of the business’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $324.00, for a total value of $486,000.00. Following the transaction, the chief marketing officer now owns 285,583 shares in the company, valued at $92,528,892. The disclosure for this sale can be found here. Insiders sold a total of 20,456 shares of company stock worth $6,944,176 over the last quarter. Company insiders own 8.90% of the company’s stock.

Shares of NASDAQ:BGNE opened at $352.99 on Friday. BeiGene, Ltd. has a 12-month low of $155.16 and a 12-month high of $388.97. The firm has a fifty day moving average of $328.70. The stock has a market cap of $32.41 billion, a P/E ratio of -25.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.62 and a quick ratio of 4.56.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Friday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.90) by $2.59. BeiGene had a negative return on equity of 31.71% and a negative net margin of 135.24%. Sell-side analysts forecast that BeiGene, Ltd. will post -11.88 EPS for the current fiscal year.

BGNE has been the subject of a number of research analyst reports. China Renaissance Securities initiated coverage on BeiGene in a research note on Monday, March 8th. They set a “buy” rating for the company. Zacks Investment Research raised BeiGene from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. Morgan Stanley raised their price objective on BeiGene from $357.00 to $409.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. HSBC raised their price objective on BeiGene from $296.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, March 16th. Finally, CLSA downgraded BeiGene from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $330.00 to $321.00 in a report on Monday, March 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $322.33.

BeiGene Company Profile

BeiGene, Ltd., a commercial-stage biotechnology company, engages in discovering, developing, manufacturing, and commercializing medicines for cancer therapeutics in the People's Republic of China and the United States. Its commercial products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and BAT1706 to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

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Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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