Candriam Luxembourg S.C.A. lowered its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 52.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the company’s stock after selling 60,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in BeiGene were worth $2,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in BeiGene by 2.8% in the first quarter. FMR LLC now owns 3,987,748 shares of the company’s stock worth $145,991,000 after buying an additional 107,323 shares in the last quarter. Wellington Management Group LLP raised its position in BeiGene by 15.8% in the first quarter. Wellington Management Group LLP now owns 1,256,825 shares of the company’s stock valued at $46,013,000 after buying an additional 171,704 shares during the period. OppenheimerFunds Inc. acquired a new position in BeiGene during the first quarter valued at about $2,086,000. Emory University acquired a new position in BeiGene during the first quarter valued at about $2,111,000. Finally, Vident Investment Advisory LLC raised its position in BeiGene by 19.2% in the first quarter. Vident Investment Advisory LLC now owns 29,746 shares of the company’s stock valued at $1,089,000 after buying an additional 4,788 shares during the period. Institutional investors and hedge funds own 43.85% of the company’s stock.

BeiGene, Ltd. (BGNE) opened at 77.30 on Thursday. The firm’s market cap is $3.07 billion. BeiGene, Ltd. has a 1-year low of $26.43 and a 1-year high of $79.89. The company has a 50-day moving average of $65.71 and a 200-day moving average of $45.09.

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Several research firms have issued reports on BGNE. Maxim Group set a $57.00 price target on shares of BeiGene and gave the stock a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded shares of BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, July 11th. Robert W. Baird lifted their price target on shares of BeiGene from $44.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, July 6th. Ladenburg Thalmann Financial Services assumed coverage on shares of BeiGene in a research note on Monday. They issued a “buy” rating and a $81.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of BeiGene in a research note on Monday, July 10th. Seven research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $74.80.

In related news, Director Xiaodong Wang sold 5,539 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $40.00, for a total transaction of $221,560.00. Following the completion of the transaction, the director now owns 55,000 shares in the company, valued at $2,200,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald W. Glazer sold 10,810 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $72.15, for a total transaction of $779,941.50. Following the transaction, the director now owns 7,206 shares of the company’s stock, valued at approximately $519,912.90. The disclosure for this sale can be found here. Insiders have sold 389,249 shares of company stock valued at $22,594,820 in the last three months. 24.20% of the stock is owned by insiders.

About BeiGene

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

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Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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