BeiGene, Ltd. (NASDAQ:BGNE) Sees Significant Increase in Short Interest

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,830,000 shares, a growth of 17.3% from the May 31st total of 1,560,000 shares. Based on an average daily trading volume, of 175,500 shares, the days-to-cover ratio is presently 10.4 days.

BeiGene Stock Performance

BeiGene stock traded down $2.91 during midday trading on Friday, reaching $142.67. 318,147 shares of the company’s stock were exchanged, compared to its average volume of 185,800. BeiGene has a 52 week low of $126.97 and a 52 week high of $225.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of -18.85 and a beta of 0.60. The stock’s 50-day simple moving average is $156.93 and its 200 day simple moving average is $159.73.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The business had revenue of $751.70 million during the quarter, compared to analysts’ expectations of $670.09 million. During the same quarter last year, the company posted ($3.34) earnings per share. BeiGene’s quarterly revenue was up 67.9% on a year-over-year basis. On average, analysts expect that BeiGene will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Julia Aijun Wang sold 899 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $155.66, for a total transaction of $139,938.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other BeiGene news, CFO Julia Aijun Wang sold 899 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $155.66, for a total transaction of $139,938.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 26,716 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,927 shares of company stock valued at $4,965,913. 7.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeiGene

Several hedge funds have recently bought and sold shares of the stock. Swedbank AB acquired a new stake in BeiGene during the first quarter worth approximately $2,596,000. Price T Rowe Associates Inc. MD lifted its position in BeiGene by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after acquiring an additional 117,905 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in BeiGene during the first quarter worth approximately $12,846,000. Capital International Sarl lifted its position in BeiGene by 8.8% during the first quarter. Capital International Sarl now owns 191,942 shares of the company’s stock worth $30,018,000 after acquiring an additional 15,605 shares during the last quarter. Finally, Capital International Ltd. CA lifted its position in BeiGene by 14.0% during the first quarter. Capital International Ltd. CA now owns 74,874 shares of the company’s stock worth $11,710,000 after acquiring an additional 9,213 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BGNE shares. Bank of America lowered their target price on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. TD Cowen raised their price objective on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Sanford C. Bernstein decreased their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $251.93.

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.