Ariose Capital Management Ltd raised its position in Beigene Ltd (NASDAQ:BGNE) by 414.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,609 shares of the company’s stock after buying an additional 160,010 shares during the period. Beigene accounts for 3.6% of Ariose Capital Management Ltd’s portfolio, making the stock its 5th largest position. Ariose Capital Management Ltd’s holdings in Beigene were worth $7,271,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Airain ltd acquired a new position in shares of Beigene during the first quarter worth about $320,000. Parametric Portfolio Associates LLC raised its position in shares of Beigene by 59.1% in the first quarter. Parametric Portfolio Associates LLC now owns 10,796 shares of the company’s stock worth $395,000 after buying an additional 4,010 shares during the period. First Trust Advisors LP raised its position in shares of Beigene by 37.3% in the first quarter. First Trust Advisors LP now owns 47,831 shares of the company’s stock worth $1,751,000 after buying an additional 13,002 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Beigene by 3.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 45,987 shares of the company’s stock worth $1,684,000 after buying an additional 1,700 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Beigene by 42.0% in the first quarter. ProShare Advisors LLC now owns 9,872 shares of the company’s stock worth $361,000 after buying an additional 2,918 shares during the period. Institutional investors and hedge funds own 33.01% of the company’s stock.
Beigene Ltd (NASDAQ:BGNE) traded down 2.21% during mid-day trading on Tuesday, reaching $36.72. The company had a trading volume of 19,011 shares. Beigene Ltd has a 12 month low of $24.53 and a 12 month high of $42.09. The stock’s 50-day moving average is $38.19 and its 200 day moving average is $35.28. The firm’s market capitalization is $1.46 billion.
Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.86) by $0.19. The company had revenue of $1 million during the quarter, compared to analysts’ expectations of $3.75 million. The company’s revenue for the quarter was down 78.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.05) earnings per share. On average, analysts predict that Beigene Ltd will post ($5.00) earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Maxim Group restated a “buy” rating and set a $52.00 target price on shares of Beigene in a research report on Thursday, May 11th. Zacks Investment Research downgraded Beigene from a “hold” rating to a “sell” rating in a report on Monday, March 27th.
In related news, Director Xiaodong Wang sold 14,461 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $40.80, for a total transaction of $590,008.80. Following the transaction, the director now directly owns 65,030 shares of the company’s stock, valued at $2,653,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Oyler sold 31,989 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $39.39, for a total value of $1,260,046.71. Following the transaction, the chief executive officer now directly owns 197,640 shares in the company, valued at $7,785,039.60. The disclosure for this sale can be found here. Insiders have sold 316,598 shares of company stock worth $12,545,905 over the last three months.
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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