Primecap Management Co. CA Sells 12,000 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Primecap Management Co. CA decreased its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 0.05% of BeiGene worth $1,116,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BGNE. Blue Trust Inc. raised its position in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Raymond James & Associates increased its position in shares of BeiGene by 0.4% during the second 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 period. Truist Financial Corp increased its position in shares of BeiGene by 10.1% during the second 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 period. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene during the third quarter worth approximately $36,000. Finally, ProShare Advisors LLC increased its position in shares of BeiGene by 8.1% during the first 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 period. Institutional investors own 48.55% of the company’s stock.

Insider Transactions at BeiGene

In related news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. Company insiders own 7.43% of the company’s stock.

BeiGene Trading Up 3.5 %

NASDAQ:BGNE opened at $194.26 on Thursday. BeiGene, Ltd. has a 12 month low of $126.97 and a 12 month high of $248.16. The firm has a fifty day simple moving average of $212.60 and a 200-day simple moving average of $182.77. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $18.92 billion, a P/E ratio of -23.58 and a beta of 0.63.

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

Analysts Set New Price Targets

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