AlphaCentric Advisors LLC Sells 9,500 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

AlphaCentric Advisors LLC lowered its position in shares of BeiGene, Ltd. (NASDAQ:BGNE - Free Report) by 63.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,500 shares of the company's stock after selling 9,500 shares during the quarter. AlphaCentric Advisors LLC's holdings in BeiGene were worth $1,235,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of BeiGene by 156.3% in 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new position in BeiGene during the 3rd quarter valued at $36,000. Headlands Technologies LLC purchased a new position in BeiGene during the 1st quarter worth $50,000. SG Americas Securities LLC bought a new stake in shares of BeiGene in the 3rd quarter worth $105,000. Finally, Acadian Asset Management LLC raised its holdings in shares of BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company's stock valued at $197,000 after purchasing an additional 849 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

Insider Buying and Selling at BeiGene

In other news, COO Xiaobin Wu sold 5,556 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Xiaobin Wu sold 5,556 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was 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 23,070 shares of company stock worth $4,901,050 over the last ninety days. Insiders own 7.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BGNE. Bank of America decreased their price objective on shares of BeiGene from $180.00 to $152.50 and set a "neutral" rating for the company in a research note on Tuesday, July 9th. Citigroup upped their price objective on BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on BeiGene from $200.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Finally, JMP Securities started 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $246.21.

BeiGene Price Performance

BGNE stock traded up $0.68 during midday trading on Tuesday, reaching $207.93. The company had a trading volume of 238,900 shares, compared to its average volume of 263,486. The firm has a 50-day moving average price of $211.76 and a 200-day moving average price of $178.98. The company has a market capitalization of $20.24 billion, a P/E ratio of -40.83 and a beta of 0.63. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75.

BeiGene (NASDAQ:BGNE - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating analysts' consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analysts' expectations of $810.34 million. During the same quarter in the prior year, the firm earned ($3.64) earnings per share. The firm's revenue was up 56.1% on a year-over-year basis. On average, research analysts anticipate that BeiGene, Ltd. will post -5 earnings per share for the current fiscal year.

About BeiGene

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.