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

BeiGene, Ltd. (NASDAQ:BGNE) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,250,000 shares, a growth of 11.9% from the August 15th total of 2,010,000 shares. Based on an average daily volume of 271,300 shares, the days-to-cover ratio is currently 8.3 days.

Insider Activity

In related news, CFO Julia Aijun Wang sold 472 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,210 shares of company stock valued at $2,269,721. 7.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BeiGene

A number of large investors have recently added to or reduced their stakes in BGNE. Headlands Technologies LLC acquired a new position in shares of BeiGene in the first quarter valued at $50,000. Benjamin F. Edwards & Company Inc. lifted its position in BeiGene by 51.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after acquiring an additional 279 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of BeiGene during the fourth quarter worth approximately $183,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of BeiGene in the fourth quarter valued at approximately $215,000. Finally, Acadian Asset Management LLC increased its stake in shares of BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after purchasing an additional 849 shares during the period. Institutional investors own 48.55% of the company’s stock.

BeiGene Stock Performance

Shares of BeiGene stock traded up $2.89 during trading on Tuesday, hitting $199.34. 12,612 shares of the stock were exchanged, compared to its average volume of 247,954. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $178.20 and a 200-day moving average price of $163.51. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of -26.40 and a beta of 0.61. BeiGene has a 1-year low of $126.97 and a 1-year high of $215.00.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $810.34 million. During the same quarter last year, the company posted ($3.64) earnings per share. BeiGene’s quarterly revenue was up 56.1% on a year-over-year basis. As a group, equities analysts predict that BeiGene will post -5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised their price objective on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America reduced their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $233.42.

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.