BeiGene (NASDAQ:BGNE) Stock Price Down 4.1% Following Insider Selling

Posted by Defense World Staff on Jun 22nd, 2023

BeiGene, Ltd. (NASDAQ:BGNE – Get Rating)’s stock price fell 4.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $182.57 and last traded at $183.62. 48,616 shares were traded during mid-day trading, a decline of 78% from the average session volume of 219,552 shares. The stock had previously closed at $191.57.

Specifically, COO Xiaobin Wu sold 7,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $253.72, for a total transaction of $1,776,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Xiaobin Wu sold 7,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $253.72, for a total transaction of $1,776,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lai Wang sold 462 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $224.74, for a total transaction of $103,829.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,699,843 shares of company stock valued at $557,663,863. 7.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BGNE shares. StockNews.com started coverage on BeiGene in a report on Thursday, May 18th. They issued a “hold” rating for the company. Guggenheim restated a “buy” rating and issued a $350.00 price objective on shares of BeiGene in a report on Tuesday, February 28th. Cowen lifted their price objective on BeiGene from $213.00 to $262.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Bank of America lifted their price objective on BeiGene from $230.10 to $263.30 and gave the company a “neutral” rating in a report on Wednesday, April 12th. Finally, Morgan Stanley reduced their target price on shares of BeiGene from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Tuesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.16.

BeiGene Trading Down 3.1 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.51. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of -9.99 and a beta of 0.79. The company’s fifty day moving average price is $236.65 and its 200-day moving average price is $234.13.

BeiGene (NASDAQ:BGNE – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($3.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.66) by $0.32. BeiGene had a negative net margin of 123.48% and a negative return on equity of 41.58%. The firm had revenue of $447.80 million for the quarter, compared to the consensus estimate of $449.44 million. During the same quarter in the prior year, the company posted ($4.24) earnings per share. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, research analysts expect that BeiGene, Ltd. will post -12.56 EPS for the current fiscal year.

Institutional Investors Weigh In On BeiGene

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in BeiGene in the first quarter valued at approximately $25,000. Toronto Dominion Bank purchased a new stake in BeiGene in the first quarter valued at approximately $27,000. Ronald Blue Trust Inc. boosted its position in BeiGene by 302.4% in the first quarter. Ronald Blue Trust Inc. now owns 169 shares of the company’s stock valued at $37,000 after buying an additional 127 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in BeiGene by 26.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock valued at $54,000 after buying an additional 51 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in BeiGene in the first quarter valued at approximately $77,000. Hedge funds and other institutional investors own 49.67% of the company’s stock.

BeiGene Company Profile

(Get Rating)

BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.