Aviva PLC Invests $2.07 Million in Beigene Ltd (BGNE) Stock

Aviva PLC acquired a new stake in Beigene Ltd (NASDAQ:BGNE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,761 shares of the company’s stock, valued at approximately $2,070,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BGNE. Hsbc Holdings PLC increased its holdings in Beigene by 1,214.2% in the third quarter. Hsbc Holdings PLC now owns 2,628,418 shares of the company’s stock valued at $452,666,000 after purchasing an additional 2,428,418 shares during the period. Capital Research Global Investors acquired a new stake in Beigene in the third quarter valued at $314,859,000. BlackRock Inc. increased its holdings in Beigene by 294.9% in the fourth quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock valued at $263,281,000 after purchasing an additional 1,401,773 shares during the period. Pictet Asset Management Ltd. acquired a new stake in Beigene in the third quarter valued at $2,213,000. Finally, Canada Pension Plan Investment Board increased its holdings in Beigene by 12.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,115,870 shares of the company’s stock valued at $192,175,000 after purchasing an additional 120,870 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Shares of Beigene stock opened at $134.78 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 7.89 and a quick ratio of 7.82. Beigene Ltd has a 1-year low of $105.19 and a 1-year high of $220.10. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of -11.09 and a beta of 1.20.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, February 27th. The company reported ($4.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.55) by ($1.97). Beigene had a negative return on equity of 42.63% and a negative net margin of 339.91%. The business had revenue of $58.67 million for the quarter, compared to analyst estimates of $59.37 million. During the same quarter in the previous year, the business posted ($2.19) earnings per share. The business’s revenue was up 222.8% on a year-over-year basis. On average, sell-side analysts forecast that Beigene Ltd will post -13.85 earnings per share for the current year.

In other Beigene news, Director Xiaodong Wang sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $146.82, for a total transaction of $734,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy C. Peterson sold 20,000 shares of the stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $133.68, for a total value of $2,673,600.00. Following the sale, the chief marketing officer now owns 194,569 shares of the company’s stock, valued at $26,009,983.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,794 shares of company stock valued at $8,327,479. Company insiders own 13.30% of the company’s stock.

A number of research firms recently weighed in on BGNE. Zacks Investment Research downgraded Beigene from a “strong-buy” rating to a “hold” rating in a report on Monday, March 4th. Maxim Group set a $170.00 price objective on Beigene and gave the company a “buy” rating in a report on Thursday, February 28th. Piper Jaffray Companies decreased their price objective on Beigene to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 28th. ValuEngine downgraded Beigene from a “strong-buy” rating to a “buy” rating in a report on Friday, February 15th. Finally, BidaskClub downgraded Beigene from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $177.68.

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Beigene Company Profile

BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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.

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Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

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