BeiGene (NASDAQ:BGNE) Stock Price Down 6.2% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities analysts have commented on BGNE shares. Citigroup increased their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JMP Securities began coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.21.

BeiGene Price Performance

The company has a market capitalization of $18.85 billion, a PE 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. The stock has a fifty day simple moving average of $212.67 and a 200-day simple moving average of $181.34.

Insider Activity

In related news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. In the last three months, insiders sold 23,070 shares of company stock valued at $4,901,050. Insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its stake in shares of BeiGene by 63.7% during the first quarter. Janney Montgomery Scott LLC now owns 2,280 shares of the company’s stock valued at $357,000 after acquiring an additional 887 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in BeiGene in the first quarter worth approximately $209,000. Headlands Technologies LLC acquired a new position in BeiGene in the 1st quarter worth approximately $50,000. ProShare Advisors LLC boosted its stake in BeiGene by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after purchasing an additional 217 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of BeiGene by 52.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,661 shares of the company’s stock valued at $885,000 after buying an additional 1,942 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Company 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.