Donald W. Glazer Sells 47,149 Shares of Beigene Ltd (BGNE) Stock
Beigene Ltd (NASDAQ:BGNE) Director Donald W. Glazer sold 47,149 shares of the business’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $29.61, for a total value of $1,396,081.89. Following the sale, the director now directly owns 4,881,997 shares of the company’s stock, valued at approximately $144,555,931.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Beigene Ltd (NASDAQ:BGNE) opened at 30.23 on Thursday. The company’s market cap is $994.66 million. The stock has a 50 day moving average price of $29.81 and a 200-day moving average price of $29.04. Beigene Ltd has a 1-year low of $22.51 and a 1-year high of $35.60.
Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.05. The business earned $0.40 million during the quarter, compared to analyst estimates of $2.08 million. The firm’s revenue for the quarter was down 71.4% on a year-over-year basis. On average, equities research analysts forecast that Beigene Ltd will post ($3.38) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Boxer Capital LLC boosted its stake in Beigene by 18.4% in the second quarter. Boxer Capital LLC now owns 493,630 shares of the company’s stock worth $14,710,000 after buying an additional 76,751 shares during the period. Vident Investment Advisory LLC acquired a new stake in Beigene during the second quarter worth approximately $678,000. FMR LLC boosted its stake in Beigene by 34.0% in the second quarter. FMR LLC now owns 2,300,337 shares of the company’s stock worth $68,550,000 after buying an additional 583,277 shares during the period. Board of Trustees of The Leland Stanford Junior University acquired a new stake in Beigene during the second quarter worth approximately $1,490,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Beigene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock worth $191,000 after buying an additional 2,589 shares during the period.
Several research firms have issued reports on BGNE. Cowen and Company reissued a “buy” rating on shares of Beigene in a report on Monday, June 6th. Maxim Group began coverage on Beigene in a report on Wednesday, September 21st. They set a “buy” rating and a $41.00 price target for the company. Finally, Zacks Investment Research raised Beigene from a “sell” rating to a “hold” rating in a report on Monday, September 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.
BeiGene, Ltd. is a biopharmaceutical company. The Company is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. It is developing its product candidate, BGB-3111, a potent and selective small molecule Bruton’s tyrosine kinase (BTK) inhibitor, as a monotherapy and in combination with other therapies for the treatment of a range of lymphomas.
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