UBS Group AG Boosts Holdings in Beigene Ltd (NASDAQ:BGNE)
UBS Group AG boosted its position in shares of Beigene Ltd (NASDAQ:BGNE) by 119.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,162 shares of the company’s stock after acquiring an additional 22,913 shares during the period. UBS Group AG owned 0.05% of Beigene worth $5,190,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Capital International Investors raised its holdings in shares of Beigene by 28.1% in the fourth quarter. Capital International Investors now owns 4,550,930 shares of the company’s stock worth $754,363,000 after buying an additional 998,037 shares during the last quarter. Norges Bank purchased a new position in shares of Beigene in the fourth quarter worth $67,449,000. Pictet Asset Management Ltd. raised its holdings in shares of Beigene by 58.0% in the fourth quarter. Pictet Asset Management Ltd. now owns 268,234 shares of the company’s stock worth $3,443,000 after buying an additional 98,452 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Beigene by 26.2% in the fourth quarter. Bank of America Corp DE now owns 214,277 shares of the company’s stock worth $35,518,000 after buying an additional 44,551 shares during the last quarter. Finally, Matthews International Capital Management LLC raised its holdings in shares of Beigene by 12.1% in the fourth quarter. Matthews International Capital Management LLC now owns 210,803 shares of the company’s stock worth $34,943,000 after buying an additional 22,700 shares during the last quarter. 63.41% of the stock is owned by institutional investors.
BGNE stock opened at $159.12 on Friday. The firm has a market cap of $12.82 billion, a PE ratio of -9.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.89 and a current ratio of 7.96. The firm’s fifty day moving average is $153.80 and its 200 day moving average is $165.39. Beigene Ltd has a one year low of $113.01 and a one year high of $210.35.
A number of research firms have issued reports on BGNE. Macquarie raised shares of Beigene from an “underperform” rating to a “neutral” rating in a report on Friday, March 13th. ValuEngine upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Cowen reiterated a “buy” rating and issued a $200.00 price objective on shares of Beigene in a research note on Tuesday, March 3rd. BidaskClub upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Goldman Sachs Group assumed coverage on shares of Beigene in a research note on Tuesday, February 18th. They issued a “buy” rating and a $197.30 price objective on the stock. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $199.63.
In other Beigene news, insider Xiaobin Wu sold 7,024 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $141.33, for a total transaction of $992,701.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Xiaodong Wang sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $157.14, for a total transaction of $785,700.00. Following the transaction, the insider now directly owns 7,395,580 shares in the company, valued at $1,162,141,441.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,659 shares of company stock worth $4,615,780. 10.70% of the stock is owned by company insiders.
Beigene Company Profile
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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