Cubist Systematic Strategies LLC Purchases New Shares in Beigene Ltd (NASDAQ:BGNE)

Cubist Systematic Strategies LLC purchased a new stake in shares of Beigene Ltd (NASDAQ:BGNE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,745 shares of the company’s stock, valued at approximately $4,267,000.

A number of other large investors also recently added to or reduced their stakes in BGNE. JGP Global Gestao de Recursos Ltda. raised its position in Beigene by 1.2% during the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 5,653 shares of the company’s stock valued at $937,000 after acquiring an additional 68 shares in the last quarter. Prudential Financial Inc. raised its position in Beigene by 3.2% in the fourth quarter. Prudential Financial Inc. now owns 3,230 shares of the company’s stock valued at $535,000 after purchasing an additional 100 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Beigene by 0.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,441 shares of the company’s stock valued at $4,383,000 after purchasing an additional 122 shares during the period. American International Group Inc. raised its holdings in shares of Beigene by 3.7% in the 4th quarter. American International Group Inc. now owns 4,035 shares of the company’s stock valued at $669,000 after buying an additional 144 shares during the period. Finally, First Quadrant L P CA purchased a new stake in shares of Beigene in the 4th quarter valued at $31,000. Institutional investors own 75.47% of the company’s stock.

Shares of NASDAQ BGNE opened at $121.84 on Thursday. Beigene Ltd has a 1 year low of $113.01 and a 1 year high of $210.35. The company has a quick ratio of 3.69, a current ratio of 3.78 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $155.82 and its 200-day simple moving average is $159.16.

Beigene (NASDAQ:BGNE) last announced its earnings results on Monday, March 2nd. The company reported ($6.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($4.53) by ($1.86). Beigene had a negative return on equity of 69.41% and a negative net margin of 221.53%. The business had revenue of $56.89 million for the quarter, compared to analysts’ expectations of $60.25 million. During the same period in the previous year, the firm posted ($4.52) earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. Research analysts forecast that Beigene Ltd will post -18.43 earnings per share for the current fiscal year.

In other Beigene news, insider Xiaodong Wang sold 5,000 shares of Beigene stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $157.14, for a total value of $785,700.00. Following the completion of the transaction, the insider now directly owns 7,395,580 shares in the company, valued at $1,162,141,441.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Jane Huang sold 1,500 shares of Beigene stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $170.69, for a total value of $256,035.00. Following the completion of the transaction, the chief marketing officer now owns 291,667 shares of the company’s stock, valued at $49,784,640.23. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by company insiders.

BGNE has been the subject of several analyst reports. ValuEngine raised Beigene from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Guggenheim cut Beigene from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Piper Jaffray Companies downgraded Beigene from an “overweight” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research note on Monday, December 16th. Cowen reissued a “buy” rating and set a $200.00 target price on shares of Beigene in a research note on Tuesday, March 3rd. Finally, Macquarie upgraded Beigene from an “underperform” rating to a “neutral” rating in a report on Friday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $196.93.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

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