Primecap Management Co. CA Lowers Stock Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

Primecap Management Co. CA trimmed its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,974,289 shares of the company’s stock after selling 12,000 shares during the period. Primecap Management Co. CA owned approximately 5.11% of BeiGene worth $1,116,778,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Raymond James & Associates raised its holdings in BeiGene by 0.4% in the 2nd quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after acquiring an additional 76 shares during the last quarter. Truist Financial Corp raised its holdings in BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BeiGene in the 3rd quarter worth approximately $36,000. Finally, ProShare Advisors LLC raised its holdings 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 acquiring an additional 217 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Stock Up 3.5 %

BGNE opened at $194.26 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The firm’s fifty day moving average is $212.60 and its 200 day moving average is $182.77. The stock has a market cap of $18.92 billion, a price-to-earnings ratio of -23.58 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter last year, the firm posted $2.01 EPS. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, sell-side analysts forecast that BeiGene, Ltd. will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock worth $4,901,050 in the last 90 days. 7.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BGNE has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup boosted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, JMP Securities began coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $247.07.

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.