Short Interest in BeiGene, Ltd. (NASDAQ:BGNE) Decreases By 8.3%

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 999,400 shares, a decline of 8.3% from the October 31st total of 1,090,000 shares. Based on an average daily volume of 314,100 shares, the short-interest ratio is currently 3.2 days.

BeiGene Stock Performance

NASDAQ BGNE traded down $3.46 during trading hours on Wednesday, reaching $202.55. 74,205 shares of the company were exchanged, compared to its average volume of 273,607. The stock has a market capitalization of $19.73 billion, a P/E ratio of -25.00 and a beta of 0.57. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. BeiGene has a 1 year low of $126.97 and a 1 year high of $248.16. The business’s 50 day simple moving average is $212.45 and its 200-day simple moving average is $185.24.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same period last year, the firm posted $2.01 EPS. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities research analysts expect that BeiGene will post -5.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. TD Cowen raised their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and a consensus target price of $253.69.

Insider Transactions at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 500 shares of BeiGene stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $200.00, for a total value of $100,000.00. Following the completion of the sale, the chief operating officer now directly owns 4,500 shares in the company, valued at approximately $900,000. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Xiaodong Wang sold 40,468 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total transaction of $7,692,966.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,845 shares of company stock worth $11,514,300. Company insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene in the third quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BeiGene during the 3rd quarter valued at approximately $67,000. SG Americas Securities LLC bought a new position in BeiGene in the 3rd quarter worth approximately $105,000. Finally, PFG Investments LLC purchased a new position in BeiGene in the 3rd quarter valued at approximately $210,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.