Advisors Asset Management Inc. Sells 214 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Advisors Asset Management Inc. lowered its position in BeiGene, Ltd. (NASDAQ:BGNE) by 43.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280 shares of the company’s stock after selling 214 shares during the period. Advisors Asset Management Inc.’s holdings in BeiGene were worth $63,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGNE. Blue Trust Inc. boosted its holdings in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in BeiGene in the 3rd quarter valued at $36,000. SG Americas Securities LLC acquired a new position in BeiGene in the 3rd quarter worth $105,000. PFG Investments LLC bought a new position in BeiGene during the 3rd quarter worth about $210,000. Finally, Truist Financial Corp increased its holdings in BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after purchasing an additional 140 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Insider Activity at BeiGene

In related news, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,538 shares of company stock worth $12,594,017. Insiders own 7.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BGNE shares. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. Citigroup boosted their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Trading Up 4.3 %

NASDAQ BGNE opened at $215.00 on Friday. BeiGene, Ltd. has a 12 month low of $126.97 and a 12 month high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $212.42 and a 200-day moving average of $184.63. The company has a market cap of $20.94 billion, a PE ratio of -26.09 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. During the same period last year, the company posted $2.01 earnings per share. The business’s revenue was up 28.2% compared to the same quarter last year. On average, equities research analysts anticipate that BeiGene, Ltd. will post -5.38 EPS 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.