BeiGene (NASDAQ:BGNE) Stock Price Down 6.2% – Time to Sell?

Shares of BeiGene, Ltd. (NASDAQ:BGNE) were down 6.2% on Tuesday . The company traded as low as $192.32 and last traded at $192.32. Approximately 23,045 shares were traded during trading, a decline of 91% from the average daily volume of 263,609 shares. The stock had previously closed at $205.04.

Analyst Ratings Changes

Several equities research analysts have weighed in on BGNE shares. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Citigroup lifted their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, BeiGene presently has a consensus rating of “Moderate Buy” and an average target price of $246.21.

BeiGene Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The stock has a 50 day moving average price of $212.67 and a 200-day moving average price of $181.34. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of -38.03 and a beta of 0.63.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,070 shares of company stock valued at $4,901,050. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in BeiGene by 156.3% during the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Raymond James & Associates grew its holdings in shares of BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock valued at $3,035,000 after purchasing an additional 76 shares during the last quarter. Truist Financial Corp grew its holdings in BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after buying an additional 140 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of BeiGene during the 3rd quarter valued at about $36,000. Finally, ProShare Advisors LLC lifted its stake in BeiGene by 8.1% during the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Company Profile

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.