Assetmark Inc. Sells 1,450 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Assetmark Inc. decreased its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,158 shares of the company’s stock after selling 1,450 shares during the quarter. Assetmark Inc.’s holdings in BeiGene were worth $3,852,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new stake in shares of BeiGene during the second quarter valued at approximately $1,168,000. Swedbank AB bought a new stake in BeiGene during the 1st quarter valued at $2,596,000. M&G Plc purchased a new stake in shares of BeiGene in the 1st quarter worth $29,649,000. The Manufacturers Life Insurance Company grew its position in shares of BeiGene by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after buying an additional 3,915 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of BeiGene by 8.9% during the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after buying an additional 7,816 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeiGene Price Performance

NASDAQ BGNE opened at $193.64 on Wednesday. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16. The firm’s fifty day simple moving average is $212.67 and its two-hundred day simple moving average is $181.34. 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 firm has a market capitalization of $18.85 billion, a P/E ratio of -38.03 and a beta of 0.63.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock worth $4,901,050 in the last ninety days. 7.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BGNE has been the topic of a number of research reports. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Citigroup increased their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

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.