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.
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.
ILLEGAL ACTIVITY NOTICE: “Aviva PLC Invests $2.07 Million in Beigene Ltd (BGNE) Stock” was reported by WKRB News and is the property of of WKRB News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.wkrb13.com/2019/03/15/aviva-plc-invests-2-07-million-in-beigene-ltd-bgne-stock.html.
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.
Recommended Story: Discover Your Risk Tolerance
Want to see what other hedge funds are holding BGNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beigene Ltd (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.