DRW Securities LLC Invests $573,000 in BeiGene, Ltd. (NASDAQ:BGNE)

DRW Securities LLC bought a new stake in BeiGene, Ltd. (NASDAQ:BGNE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,553 shares of the company’s stock, valued at approximately $573,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BGNE. Blue Trust Inc. lifted its position in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new position in BeiGene during the third quarter worth $36,000. SG Americas Securities LLC acquired a new position in BeiGene in the third quarter valued at $105,000. PFG Investments LLC bought a new stake in BeiGene during the third quarter valued at $210,000. Finally, Truist Financial Corp grew its holdings in BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup boosted 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. JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, TD Cowen increased their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.07.

BeiGene Price Performance

Shares of BGNE opened at $192.11 on Wednesday. The business’s fifty day moving average is $211.94 and its 200 day moving average is $183.56. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock has a market cap of $18.71 billion, a P/E ratio of -23.31 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the business earned $2.01 earnings per share. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Sell-side analysts anticipate that BeiGene, Ltd. will post -5.38 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In related news, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Insiders sold a total of 23,070 shares of company stock valued at $4,901,050 over the last ninety days. 7.43% of the stock is currently owned by insiders.

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.