California Public Employees Retirement System Buys New Stake in Beigene Ltd (BGNE)

California Public Employees Retirement System purchased a new position in shares of Beigene Ltd (NASDAQ:BGNE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,482 shares of the company’s stock, valued at approximately $4,912,000. California Public Employees Retirement System owned 0.12% of Beigene as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Beigene in the third quarter valued at approximately $160,000. Teachers Retirement System of The State of Kentucky acquired a new position in Beigene during the third quarter valued at approximately $248,000. SG Americas Securities LLC acquired a new position in Beigene during the second quarter valued at approximately $111,000. Aperio Group LLC acquired a new position in Beigene during the third quarter valued at approximately $301,000. Finally, Jane Street Group LLC acquired a new position in Beigene during the third quarter valued at approximately $339,000. Institutional investors and hedge funds own 55.31% of the company’s stock.

Several brokerages have commented on BGNE. Maxim Group set a $120.00 price objective on shares of Beigene and gave the company a “buy” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a report on Friday, January 5th. ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Beigene from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and issued a $83.00 price objective (up from $58.00) on shares of Beigene in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $96.67.

In other Beigene news, CEO John Oyler sold 150,957 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total value of $12,152,038.50. Following the completion of the sale, the chief executive officer now owns 491,891 shares in the company, valued at approximately $39,597,225.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 1,980,198 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were bought at an average cost of $101.00 per share, with a total value of $199,999,998.00. The disclosure for this purchase can be found here. Insiders sold a total of 483,482 shares of company stock worth $42,139,474 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Beigene Ltd (NASDAQ:BGNE) traded up $12.00 during mid-day trading on Wednesday, hitting $135.75. 457,953 shares of the stock were exchanged, compared to its average volume of 333,060. The company has a market cap of $6,677.26, a PE ratio of -104.42 and a beta of -1.03. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. Beigene Ltd has a one year low of $33.64 and a one year high of $137.50.

Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same period last year, the company earned ($1.08) EPS. research analysts forecast that Beigene Ltd will post -2.04 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/01/31/california-public-employees-retirement-system-takes-4-91-million-position-in-beigene-ltd-bgne.html.

Beigene Profile

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.

Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply