Price T Rowe Associates Inc. MD Grows Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

Price T Rowe Associates Inc. MD raised its stake in BeiGene, Ltd. (NASDAQ:BGNE) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,026,094 shares of the company’s stock after acquiring an additional 117,905 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in BeiGene were worth $316,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in BeiGene by 7,724.1% in the fourth quarter. BNP Paribas Financial Markets now owns 59,307 shares of the company’s stock valued at $10,697,000 after acquiring an additional 58,549 shares during the last quarter. Partners Capital Investment Group LLP purchased a new position in BeiGene in the fourth quarter valued at about $2,762,000. abrdn plc boosted its stake in BeiGene by 1,346.8% in the fourth quarter. abrdn plc now owns 21,138 shares of the company’s stock valued at $3,812,000 after acquiring an additional 19,677 shares during the last quarter. AIA Group Ltd boosted its stake in BeiGene by 38.9% in the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock valued at $2,893,000 after acquiring an additional 5,181 shares during the last quarter. Finally, M&G Plc purchased a new position in BeiGene in the first quarter valued at about $29,649,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Price Performance

BeiGene stock traded down $0.73 during midday trading on Friday, reaching $162.54. 101,487 shares of the stock were exchanged, compared to its average volume of 250,180. The company’s fifty day moving average is $154.57 and its 200-day moving average is $155.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. BeiGene, Ltd. has a 52 week low of $126.97 and a 52 week high of $225.23.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. The business had revenue of $751.70 million for the quarter, compared to analyst estimates of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. BeiGene’s revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.34) EPS. As a group, equities analysts forecast that BeiGene, Ltd. will post -8.23 EPS for the current year.

Insider Buying and Selling

In other news, CFO Julia Aijun Wang sold 472 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $143.90, for a total value of $67,920.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Lai Wang sold 1,064 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $159.80, for a total value of $170,027.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Julia Aijun Wang sold 472 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,683 shares of company stock valued at $1,056,089. Company insiders own 7.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BGNE shares. Bank of America dropped their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. TD Cowen upped their price target on shares of BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.75.

BeiGene Profile

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.