BeiGene (NASDAQ:BGNE) Shares Down 6.2% – Here’s Why

Shares of BeiGene, Ltd. (NASDAQ:BGNE) traded down 6.2% during mid-day trading on Tuesday . The company traded as low as $192.32 and last traded at $192.32. 23,045 shares were traded during mid-day trading, a decline of 91% from the average session volume of 263,609 shares. The stock had previously closed at $205.04.

Analyst Upgrades and Downgrades

BGNE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. 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 target on the stock. Finally, Citigroup raised their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.21.

BeiGene Stock Down 5.6 %

The firm’s 50 day simple moving average is $212.67 and its two-hundred day simple moving average is $181.34. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of -38.03 and a beta of 0.63. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Insiders sold a total of 23,070 shares of company stock worth $4,901,050 in the last three months. 7.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in BeiGene by 63.7% in the first quarter. Janney Montgomery Scott LLC now owns 2,280 shares of the company’s stock valued at $357,000 after purchasing an additional 887 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in BeiGene in the first quarter valued at $209,000. Headlands Technologies LLC bought a new stake in shares of BeiGene during the 1st quarter valued at $50,000. ProShare Advisors LLC boosted its holdings in shares of BeiGene by 8.1% during the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of BeiGene by 52.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,661 shares of the company’s stock worth $885,000 after purchasing an additional 1,942 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.