Baillie Gifford & Co. Decreases Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

Baillie Gifford & Co. trimmed its stake in shares of BeiGene, Ltd. (NASDAQ:BGNEGet Rating) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,102,968 shares of the company’s stock after selling 20,931 shares during the period. Baillie Gifford & Co. owned 4.00% of BeiGene worth $773,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Segantii Capital Management Ltd acquired a new stake in shares of BeiGene in the fourth quarter valued at about $12,298,000. TD Asset Management Inc. raised its position in shares of BeiGene by 0.4% in the fourth quarter. TD Asset Management Inc. now owns 24,526 shares of the company’s stock valued at $6,645,000 after buying an additional 93 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of BeiGene by 2.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 13,238 shares of the company’s stock valued at $3,586,000 after buying an additional 259 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of BeiGene by 0.8% in the fourth quarter. Baird Financial Group Inc. now owns 84,635 shares of the company’s stock valued at $22,930,000 after buying an additional 643 shares during the last quarter. Finally, Bridgewater Associates LP raised its position in shares of BeiGene by 30.4% in the fourth quarter. Bridgewater Associates LP now owns 229,483 shares of the company’s stock valued at $62,174,000 after buying an additional 53,560 shares during the last quarter.

BeiGene stock traded up $5.10 during midday trading on Monday, hitting $166.95. 9,849 shares of the stock were exchanged, compared to its average volume of 314,122. BeiGene, Ltd. has a fifty-two week low of $118.18 and a fifty-two week high of $426.56. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of -8.31 and a beta of 0.72. The stock’s 50-day simple moving average is $145.69 and its 200 day simple moving average is $190.85. The company has a current ratio of 5.05, a quick ratio of 4.87 and a debt-to-equity ratio of 0.03.

BeiGene (NASDAQ:BGNEGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($4.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.52) by $0.28. BeiGene had a negative net margin of 218.25% and a negative return on equity of 40.10%. The firm had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $300.41 million. The firm’s revenue was down 49.4% on a year-over-year basis. Equities analysts anticipate that BeiGene, Ltd. will post -15.54 EPS for the current fiscal year.

In other news, COO Xiaobin Wu sold 6,725 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $164.35, for a total value of $1,105,253.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lai Wang sold 660 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $142.00, for a total transaction of $93,720.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,170 shares of company stock valued at $2,182,631. Company insiders own 8.90% of the company’s stock.

BGNE has been the subject of a number of recent research reports. SVB Leerink cut shares of BeiGene from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $300.00 to $177.00 in a research report on Thursday, March 17th. StockNews.com cut shares of BeiGene from a “hold” rating to a “sell” rating in a research report on Thursday, June 16th. Finally, Morgan Stanley increased their target price on shares of BeiGene from $330.00 to $338.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.33.

About BeiGene (Get Rating)

BeiGene, Ltd., a biotechnology company, focuses on discovering, developing, manufacturing, and commercializing various medicines worldwide. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat 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 tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

Featured Stories

Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.com's FREE daily email newsletter.