BeiGene, Ltd. (NASDAQ:BGNE) Sees Large Decline in Short Interest

BeiGene, Ltd. (NASDAQ:BGNE) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,510,000 shares, a decline of 24.1% from the September 30th total of 1,990,000 shares. Based on an average daily trading volume, of 315,000 shares, the days-to-cover ratio is currently 4.8 days.

Insider Buying and Selling at BeiGene

In related news, insider Titus B. Ball sold 137 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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. Over the last quarter, insiders sold 23,904 shares of company stock worth $5,034,965. 7.43% of the stock is owned by insiders.

Institutional Investors Weigh In On BeiGene

A number of institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of BeiGene by 69.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,510 shares of the company’s stock worth $1,911,000 after buying an additional 3,486 shares during the last quarter. PFG Investments LLC purchased a new position in shares of BeiGene in the 3rd quarter worth about $210,000. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene in the 3rd quarter worth about $36,000. Blue Trust Inc. lifted its stake in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of BeiGene during the 3rd quarter worth about $105,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities started coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Bank of America cut their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Citigroup increased their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

BeiGene Trading Down 0.6 %

NASDAQ:BGNE traded down $1.34 on Friday, reaching $212.81. The stock had a trading volume of 245,775 shares, compared to its average volume of 260,966. The company has a market cap of $20.62 billion, a price-to-earnings ratio of -28.11 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16. The firm’s fifty day moving average is $210.15 and its two-hundred day moving average is $175.76.

BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating the consensus estimate of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The firm had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the firm posted ($3.64) earnings per share. The business’s quarterly revenue was up 56.1% compared to the same quarter last year. Equities analysts expect that BeiGene will post -5.07 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.