BeiGene, Ltd. (NASDAQ: BGNE) Director Sells $1573250.00 in Stock

Celgene may be gaining ground on some large drugmaking rivals with its acquisition of Bei Gene Thursday

About 211,606 shares traded or 129.76% up from the average. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. John Oyler, CEO sold $4,394,085 worth of shares at a price of $44.61 on Friday the 23rd. The shares were sold at an average price of $40.80, for a total value of $590,008.80. Bessemer Group Inc, a New Jersey-based fund reported 69,448 shares. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

Xiaodong Wang, Director sold $590,876 worth of shares at a price of $40.86 on Thursday the 4th. The company is -23.63% away from its 52 weeks high and is moving 4.72% ahead of its 52 week low.

BeiGene (NASDAQ BGNE) opened at 52.27 on Thursday. 04, 2017, the great number of shares disposed, came courtesy the Director; Wang Xiaodong disposed a total of 14,461 shares at an average price of $40.8, amounting to approximately $590,009. Anti-TIGIT is an investigational immuno-oncology therapy meant to block suppression of the immune system in tumors and enable immune system antitumor activity, similar to marketed checkpoint inhibitors that target the PD-L1/PD-1 axis. If you are reading this article on another site, it was illegally copied and reposted in violation of the USA and global copyright and trademark legislation. The stock has an average rating of Buy and a consensus price target of $50.33. Wells Fargo upgraded the shares of TBK in a report on Friday, May 26 to "Outperform" rating. Finally, Zacks Investment Research downgraded BeiGene from a "hold" rating to a "sell" rating in a research note on Monday, March 27th.

Several large investors have recently modified their holdings of BGNE. The firm now has a buy rating on the stock. Vident Investment Advisory LLC raised its position in BeiGene by 9.7% in the fourth quarter.

Among 6 analysts covering Nautilus Group (NYSE: NLS), 4 have Buy rating, 0 Sell and 2 Hold. Following the sale, the director now owns 55,000 shares in the company, valued at approximately $2,200,000.

The transfer of ownership could prove to be a win for the companies, helping Beigene establish a commercial presence ahead of the potential launch of its own portfolio, and giving Celgene a ticket out of direct responsibility for selling brand-name medicines in China, a growing challenge for big foreign drugmakers facing challenges to premium pricing there. Institutions now own 45.30% of the company. In the last 90 days, insiders have sold 189,649 shares of company stock valued at $8,197,529.

The goal is to commercialize Beigene's investigational anti-programmed cell death protein 1 (PD-1) inhibitor, BGB-A317, for patients with solid tumor cancers in the United States, Europe, Japan and rest of world outside Asia.

CELG will buy 32.7M, or 5.9%, of BGNE's shares at $4.58 each, or $59.55 per ADS; BGNE will receive $263M in upfront license fees and be eligible to receive up to $980M in development, regulatory and sales milestone payments and royalties on future sales of the tumor cancer treatment.

Shares of BeiGene closed Wednesday down almost 4% at $52.27, with a consensus analyst price target of $47.00 and a 52-week trading range of $24.53 to $54.59.

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