Cubist Systematic Strategies LLC Boosts Stake in Beigene Ltd (BGNE)
Cubist Systematic Strategies LLC grew its holdings in Beigene Ltd (NASDAQ:BGNE) by 1,874.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,388 shares of the company’s stock after acquiring an additional 9,862 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Beigene were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. bought a new stake in shares of Beigene in the second quarter valued at approximately $135,000. Virtu Financial LLC bought a new stake in shares of Beigene in the second quarter valued at approximately $212,000. Quantbot Technologies LP bought a new stake in shares of Beigene in the first quarter valued at approximately $290,000. Northern Trust Corp bought a new stake in shares of Beigene in the first quarter valued at approximately $302,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Beigene by 365.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the company’s stock valued at $364,000 after acquiring an additional 1,859 shares during the period. 77.87% of the stock is owned by institutional investors.
Shares of NASDAQ BGNE opened at $161.68 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.14 and a quick ratio of 8.10. Beigene Ltd has a one year low of $76.69 and a one year high of $220.10.
Several equities research analysts have recently weighed in on BGNE shares. ValuEngine raised Beigene from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research cut Beigene from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Piper Jaffray Companies set a $200.00 price objective on Beigene and gave the company a “buy” rating in a research report on Monday, July 23rd. BidaskClub cut Beigene from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, Cowen reissued a “buy” rating on shares of Beigene in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Beigene currently has an average rating of “Buy” and a consensus price target of $187.50.
In other news, Director Bros. Advisors Lp Baker bought 5,814,100 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was acquired at an average cost of $108.00 per share, for a total transaction of $627,922,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Jane Huang sold 2,911 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $174.60, for a total value of $508,260.60. The disclosure for this sale can be found here. Insiders sold 16,679 shares of company stock valued at $2,808,018 over the last 90 days. 14.10% of the stock is currently owned by corporate insiders.
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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