BeiGene, Ltd. (NASDAQ:BGNE) Insider Lai Wang Sells 1,108 Shares of Stock

Posted by Defense World Staff on Jun 28th, 2023

BeiGene, Ltd. (NASDAQ:BGNE – Get Rating) insider Lai Wang sold 1,108 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $181.92, for a total value of $201,567.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lai Wang also recently made the following trade(s):

On Tuesday, June 20th, Lai Wang sold 1,325 shares of BeiGene stock. The stock was sold at an average price of $192.42, for a total value of $254,956.50.
On Wednesday, June 7th, Lai Wang sold 462 shares of BeiGene stock. The stock was sold at an average price of $224.74, for a total value of $103,829.88.

BeiGene Stock Performance

Shares of BGNE opened at $180.29 on Wednesday. The company has a market cap of $17.28 billion, a PE ratio of -9.70 and a beta of 0.79. The company has a current ratio of 3.75, a quick ratio of 3.51 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $229.93 and a 200-day moving average price of $234.08. BeiGene, Ltd. has a 12-month low of $124.46 and a 12-month high of $280.62.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of BeiGene

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BeiGene during the 1st quarter valued at about $25,000. Toronto Dominion Bank bought a new stake in BeiGene in the 1st quarter worth approximately $27,000. Ronald Blue Trust Inc. lifted its position in BeiGene by 302.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 169 shares of the company’s stock worth $37,000 after buying an additional 127 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in BeiGene by 26.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock worth $54,000 after buying an additional 51 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in BeiGene in the 1st quarter worth approximately $77,000. Institutional investors own 49.67% of the company’s stock.

About BeiGene

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BeiGene, Ltd., a biotechnology company, develops and commercializes oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; Tislelizumab to treat various solid tumor and blood cancers; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; 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; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumor malignancies; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).