Xact Kapitalforvaltning AB Invests $515,000 in Beigene Ltd (NASDAQ:BGNE) Stock

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Xact Kapitalforvaltning AB bought a new position in shares of Beigene Ltd (NASDAQ:BGNE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,900 shares of the company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Neuburgh Advisers LLC acquired a new position in Beigene during the fourth quarter worth approximately $27,000. Advisor Group Inc. increased its position in Beigene by 301.4% during the fourth quarter. Advisor Group Inc. now owns 285 shares of the company’s stock worth $40,000 after buying an additional 214 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Beigene during the fourth quarter worth approximately $46,000. Quadrant Capital Group LLC increased its position in Beigene by 131.8% during the first quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock worth $47,000 after buying an additional 207 shares during the last quarter. Finally, LS Investment Advisors LLC acquired a new position in Beigene during the fourth quarter worth approximately $71,000.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Beigene from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Maxim Group set a $170.00 target price on Beigene and gave the company a “buy” rating in a research report on Thursday, February 28th. ValuEngine downgraded Beigene from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 15th. Sanford C. Bernstein started coverage on Beigene in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $201.00 target price on the stock. Finally, Morgan Stanley upped their target price on Beigene from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $182.28.

In related news, CFO Howard Liang sold 23,200 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $130.21, for a total transaction of $3,020,872.00. Following the sale, the chief financial officer now owns 52,338 shares of the company’s stock, valued at $6,814,930.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donald W. Glazer sold 15,027 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $125.11, for a total value of $1,880,027.97. Following the sale, the director now directly owns 3,911,518 shares in the company, valued at approximately $489,370,016.98. The disclosure for this sale can be found here. Insiders have sold 63,236 shares of company stock worth $8,286,319 in the last three months. 13.30% of the stock is currently owned by company insiders.

NASDAQ:BGNE traded down $7.04 during trading hours on Friday, reaching $118.05. 157,362 shares of the company were exchanged, compared to its average volume of 266,070. The company has a market capitalization of $5.92 billion, a P/E ratio of -9.72 and a beta of 1.11. Beigene Ltd has a 1-year low of $105.19 and a 1-year high of $194.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.52 and a quick ratio of 7.47.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.15) by $0.34. The business had revenue of $77.83 million for the quarter, compared to the consensus estimate of $55.79 million. Beigene had a negative return on equity of 44.75% and a negative net margin of 302.58%. The firm’s quarterly revenue was up 139.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.03) earnings per share. On average, sell-side analysts anticipate that Beigene Ltd will post -13.16 EPS for the current fiscal year.

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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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