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Insider Selling: Beigene Ltd (NASDAQ:BGNE) Insider Sells 5,000 Shares of Stock

Last updated on Tuesday, September 29, 2020 | 2020 MarketBeat

Beigene Ltd (NASDAQ:BGNE) insider Xiaodong Wang sold 5,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $280.42, for a total value of $1,402,100.00. Following the completion of the transaction, the insider now directly owns 7,201,009 shares in the company, valued at $2,019,306,943.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Xiaodong Wang also recently made the following trade(s):

  • On Thursday, September 17th, Xiaodong Wang sold 5,000 shares of Beigene stock. The shares were sold at an average price of $260.27, for a total value of $1,301,350.00.
  • On Monday, August 10th, Xiaodong Wang sold 4,000 shares of Beigene stock. The shares were sold at an average price of $211.06, for a total value of $844,240.00.
  • On Tuesday, July 7th, Xiaodong Wang sold 6,000 shares of Beigene stock. The shares were sold at an average price of $200.00, for a total value of $1,200,000.00.

NASDAQ:BGNE traded up $0.81 during midday trading on Tuesday, hitting $281.46. 233,252 shares of the stock were exchanged, compared to its average volume of 294,218. Beigene Ltd has a one year low of $114.41 and a one year high of $284.45. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of -13.73 and a beta of 1.31. The business has a 50-day moving average price of $244.37 and a two-hundred day moving average price of $189.94. The company has a current ratio of 6.15, a quick ratio of 6.09 and a debt-to-equity ratio of 0.11.

Beigene (NASDAQ:BGNE) last announced its earnings results on Thursday, August 6th. The company reported ($4.31) EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($4.78) by $0.47. Beigene had a negative return on equity of 72.94% and a negative net margin of 620.47%. The firm had revenue of $65.64 million for the quarter, compared to analysts' expectations of $50.10 million. Sell-side analysts forecast that Beigene Ltd will post -17.38 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Beigene from a "buy" rating to a "hold" rating in a research note on Friday, August 21st. ValuEngine upgraded Beigene from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. Morgan Stanley lifted their target price on Beigene from $235.00 to $241.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. SVB Leerink lifted their target price on Beigene from $207.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Finally, LADENBURG THALM/SH SH lifted their target price on Beigene from $232.00 to $268.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Beigene has a consensus rating of "Buy" and an average target price of $219.11.

A number of institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC acquired a new position in Beigene in the second quarter worth approximately $1,194,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Beigene by 28.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 37,744 shares of the company's stock worth $7,111,000 after buying an additional 8,301 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Beigene in the second quarter worth approximately $234,000. Principal Financial Group Inc. grew its position in Beigene by 46.3% in the second quarter. Principal Financial Group Inc. now owns 4,494 shares of the company's stock worth $846,000 after buying an additional 1,422 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in Beigene in the second quarter worth approximately $2,261,000. Hedge funds and other institutional investors own 56.12% of the company's stock.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

Read More: Sell-Side Analysts

Insider Buying and Selling by Quarter for Beigene (NASDAQ:BGNE)

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