BeiGene (NASDAQ:BGNE) Shares Gap Down on Insider Selling

BeiGene, Ltd. (NASDAQ:BGNE) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $146.44, but opened at $142.27. BeiGene shares last traded at $142.18, with a volume of 9,254 shares changing hands.

Specifically, insider Lai Wang sold 1,064 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.80, for a total transaction of $170,027.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the sale, the chief executive officer now owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lai Wang sold 1,064 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.80, for a total transaction of $170,027.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,927 shares of company stock valued at $4,965,913. 7.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Sanford C. Bernstein cut their price target on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Bank of America decreased their target price on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. TD Cowen increased their price target on shares of BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, BeiGene presently has a consensus rating of “Moderate Buy” and an average target price of $251.93.

BeiGene Trading Down 0.6 %

The business’s 50 day simple moving average is $156.67 and its 200 day simple moving average is $160.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of -19.23 and a beta of 0.60.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.07) by $0.66. The firm had revenue of $751.70 million for the quarter, compared to analysts’ expectations of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The firm’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.34) EPS. Research analysts anticipate that BeiGene, Ltd. will post -8.2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in BeiGene in the 1st quarter valued at $50,000. Toronto Dominion Bank increased 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 acquiring an additional 208 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in BeiGene during the fourth quarter worth about $98,000. PNC Financial Services Group Inc. lifted its position in BeiGene by 123.9% in the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock valued at $132,000 after purchasing an additional 405 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in BeiGene in the 4th quarter valued at approximately $183,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.