BeiGene (NASDAQ:BGNE) Trading Down 2.8% Following Insider Selling

BeiGene, Ltd. (NASDAQ:BGNE)’s share price dropped 2.8% during trading on Thursday following insider selling activity. The stock traded as low as $376.45 and last traded at $377.18. Approximately 629 shares were traded during trading, a decline of 100% from the average daily volume of 290,959 shares. The stock had previously closed at $388.18.

Specifically, CEO John Oyler sold 69,216 shares of the company’s stock in a transaction on Thursday, July 22nd. The shares were sold at an average price of $71.82, for a total value of $4,971,093.12. Following the transaction, the chief executive officer now owns 5,849,945 shares of the company’s stock, valued at $420,143,049.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Amgen Inc purchased 165,529 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was purchased at an average cost of $302.06 per share, for a total transaction of $49,999,689.74. The disclosure for this purchase can be found here. In the last quarter, insiders sold 576,947 shares of company stock worth $79,583,203. 8.90% of the stock is owned by company insiders.

BGNE has been the subject of a number of recent research reports. Zacks Investment Research downgraded BeiGene from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. Morgan Stanley dropped their target price on BeiGene from $409.00 to $407.00 and set an “overweight” rating for the company in a research report on Monday, August 16th. Finally, SVB Leerink boosted their target price on BeiGene from $388.00 to $417.00 and gave the stock an “outperform” rating in a research report on Monday, June 14th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $342.38.

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.86 and a quick ratio of 3.77. The stock’s 50-day moving average is $321.19 and its two-hundred day moving average is $327.37. The stock has a market cap of $34.76 billion, a P/E ratio of -26.68 and a beta of 0.88.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($5.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.74) by ($1.49). The company had revenue of $149.99 million during the quarter, compared to analysts’ expectations of $152.60 million. BeiGene had a negative return on equity of 33.26% and a negative net margin of 138.52%. On average, analysts anticipate that BeiGene, Ltd. will post -12.21 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in shares of BeiGene by 22.5% during the second quarter. Parallel Advisors LLC now owns 185 shares of the company’s stock worth $63,000 after purchasing an additional 34 shares in the last quarter. Assetmark Inc. increased its position in shares of BeiGene by 18.0% in the 1st quarter. Assetmark Inc. now owns 229 shares of the company’s stock valued at $80,000 after acquiring an additional 35 shares during the period. Quadrant Capital Group LLC increased its position in shares of BeiGene by 22.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 226 shares of the company’s stock valued at $78,000 after acquiring an additional 41 shares during the period. abrdn plc increased its position in shares of BeiGene by 1.1% in the 2nd quarter. abrdn plc now owns 4,005 shares of the company’s stock valued at $1,374,000 after acquiring an additional 44 shares during the period. Finally, Vigilare Wealth Management increased its position in shares of BeiGene by 7.9% in the 2nd quarter. Vigilare Wealth Management now owns 680 shares of the company’s stock valued at $233,000 after acquiring an additional 50 shares during the period. Institutional investors own 60.13% of the company’s stock.

About BeiGene (NASDAQ:BGNE)

BeiGene Ltd. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. It focuses on Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317), and Pamiparib (BGB-290). The company was founded by Xiao Dong Wang and John V.

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