BeiGene, Ltd. (BGNE) Holdings Trimmed by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D lessened its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 5.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,010 shares of the company’s stock after selling 2,821 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.12% of BeiGene worth $4,760,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Aperio Group LLC purchased a new position in BeiGene during the 3rd quarter valued at about $301,000. First Trust Advisors LP grew its holdings in BeiGene by 17.0% during the 3rd quarter. First Trust Advisors LP now owns 57,142 shares of the company’s stock valued at $5,912,000 after buying an additional 8,282 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in BeiGene by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,933 shares of the company’s stock valued at $4,272,000 after buying an additional 2,300 shares in the last quarter. State Street Corp grew its holdings in BeiGene by 14.4% during the 2nd quarter. State Street Corp now owns 36,604 shares of the company’s stock valued at $1,647,000 after buying an additional 4,619 shares in the last quarter. Finally, Hillhouse Capital Management Ltd. grew its holdings in BeiGene by 172.6% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after buying an additional 2,355,906 shares in the last quarter. 51.05% of the stock is owned by institutional investors and hedge funds.
BGNE has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on BeiGene from $44.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, July 6th. Ladenburg Thalmann Financial Services assumed coverage on BeiGene in a report on Monday, August 7th. They set a “buy” rating and a $81.00 price objective for the company. Maxim Group boosted their price objective on BeiGene from $57.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, July 7th. Morgan Stanley reissued an “overweight” rating and set a $83.00 price objective on shares of BeiGene in a report on Monday, July 10th. Finally, Zacks Investment Research raised BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Tuesday, July 11th. Seven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $92.50.
In related news, Director Bros. Advisors Lp Baker acquired 176,056 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $71.00 per share, with a total value of $12,499,976.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.90% of the company’s stock.
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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.
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