Handelsbanken Fonder AB Sells 6,529 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Handelsbanken Fonder AB trimmed its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,280 shares of the company’s stock after selling 6,529 shares during the period. Handelsbanken Fonder AB’s holdings in BeiGene were worth $3,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Knights of Columbus Asset Advisors LLC raised its stake in shares of BeiGene by 20.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after buying an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of BeiGene by 4.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 1,704 shares of the company’s stock worth $306,000 after buying an additional 78 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of BeiGene by 7.5% during the fourth quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock worth $291,000 after buying an additional 112 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of BeiGene by 166.4% during the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after buying an additional 208 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of BeiGene by 17.8% during the third quarter. Kestra Advisory Services LLC now owns 1,463 shares of the company’s stock worth $263,000 after buying an additional 221 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

Insider Activity at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the transaction, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,781 shares of company stock valued at $10,222,381. Corporate insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

BGNE has been the subject of several recent analyst reports. Guggenheim lowered their target price on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. upped their target price on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. TD Cowen upped their target price on shares of BeiGene from $235.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein lowered their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Finally, Bank of America lowered their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.13.

BeiGene Stock Up 3.1 %

Shares of BGNE stock opened at $148.56 on Friday. The firm has a fifty day moving average of $154.73 and a 200-day moving average of $167.40. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $266.67. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of -17.48 and a beta of 0.61.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company had revenue of $634.40 million during the quarter, compared to the consensus estimate of $632.52 million. During the same quarter in the prior year, the firm earned ($4.29) earnings per share. The firm’s revenue was up 66.9% compared to the same quarter last year. As a group, equities research analysts predict that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.