Russell Investments Group Ltd. Sells 107,561 Shares of Beigene Ltd (NASDAQ:BGNE)

Russell Investments Group Ltd. lessened its holdings in shares of Beigene Ltd (NASDAQ:BGNE) by 38.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,196 shares of the company’s stock after selling 107,561 shares during the period. Russell Investments Group Ltd.’s holdings in Beigene were worth $21,454,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Beigene by 4.6% during the 2nd quarter. BlackRock Inc. now owns 2,012,477 shares of the company’s stock valued at $249,447,000 after buying an additional 88,827 shares in the last quarter. Artal Group S.A. boosted its holdings in shares of Beigene by 8.3% during the 2nd quarter. Artal Group S.A. now owns 650,000 shares of the company’s stock valued at $80,568,000 after buying an additional 50,000 shares in the last quarter. Northern Trust Corp boosted its stake in Beigene by 5.0% in the 2nd quarter. Northern Trust Corp now owns 594,914 shares of the company’s stock worth $73,739,000 after purchasing an additional 28,569 shares in the last quarter. Myriad Asset Management Ltd. bought a new position in Beigene in the 2nd quarter worth about $70,734,000. Finally, Janus Henderson Group PLC boosted its stake in Beigene by 12.2% in the 2nd quarter. Janus Henderson Group PLC now owns 530,090 shares of the company’s stock worth $65,704,000 after purchasing an additional 57,466 shares in the last quarter.

BGNE traded up $6.55 during midday trading on Friday, hitting $199.44. 417,900 shares of the company traded hands, compared to its average volume of 330,028. The company’s 50-day moving average is $138.52 and its 200 day moving average is $131.38. The firm has a market capitalization of $9.02 billion, a PE ratio of -16.41 and a beta of 1.00. Beigene Ltd has a 52 week low of $108.00 and a 52 week high of $200.00. The company has a quick ratio of 6.28, a current ratio of 6.46 and a debt-to-equity ratio of 0.15.

Beigene (NASDAQ:BGNE) last released its earnings results on Thursday, August 8th. The company reported ($1.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.01) by $1.58. The company had revenue of $243.35 million during the quarter, compared to analyst estimates of $65.58 million. Beigene had a negative net margin of 153.32% and a negative return on equity of 38.41%. The firm’s quarterly revenue was up 360.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.92) EPS. On average, sell-side analysts predict that Beigene Ltd will post -11.49 earnings per share for the current fiscal year.

In other Beigene news, CMO Jane Huang sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $134.74, for a total transaction of $336,850.00. Following the completion of the sale, the chief marketing officer now directly owns 328,873 shares of the company’s stock, valued at approximately $44,312,348.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Yung-Cheng Chen sold 3,800 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $189.15, for a total transaction of $718,770.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at $756,600. The disclosure for this sale can be found here. Insiders sold a total of 52,676 shares of company stock valued at $9,343,855 over the last three months. 13.40% of the stock is currently owned by insiders.

A number of equities analysts recently issued reports on BGNE shares. Morgan Stanley dropped their price target on shares of Beigene from $201.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Beigene in a research note on Wednesday, October 16th. ValuEngine cut shares of Beigene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 17th. Guggenheim set a $205.00 price target on shares of Beigene and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Jaffray Companies upped their price target on shares of Beigene from $180.00 to $200.00 in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $192.67.

Beigene 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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