Beigene Ltd (ADR) (NASDAQ: BGNE) stock fell over 11.1% on October 12^th, 2017 and 0.7% on October 12^th, 2017 (As of 1:28PM EDT; Source: Google finance). Overall the stock delivered a strong rise of over 26.2% in the last four weeks, despite yesterday’s fall. Investors must be booking profits in the stock which has a target price of $100.50, which is a limited upside of only 4.6% (as per two analysts’ consensus ratings in tipranks.com).

The solid rally was mainly on the back of positive results from their preliminary data from the dose-verification portion of their ongoing Phase 1/2 trial of investigational anti-PD-1 antibody BGB-A317 in Chinese patients with advanced solid tumors. The preliminary data shows that BGB-A317 was generally well tolerated and showed early evidence of anti-tumor activity in a Chinese study population with advanced solid tumors. The group made a global strategic collaboration with Celgene Corporation for BGB-A317 for solid tumors while retained exclusive rights to BGB-A317 in China. This partnership would enable them to enhance their investment in BGB-A317, while the group intends to start the Phase 3 trials supporting approval in China for each of the four most common tumors in the country including lung, stomach, liver, and esophageal cancers, with the initial studies expected to start in the fourth quarter of 2017 or first quarter of 2018. The group would get over $413 million from Celgene as an upfront licensing fees and equity investment and would be eligible for a further $980 million in development, regulatory, and sales milestones, as well as royalties on future sales of BGB-A317. The group has a decent Cash position of $407.43 million as of June 30, 2017, as compared to $368.17 million as of December 31, 2016.

Myriad Asset Management enhanced their stake in the group. Hillhouse Capital Management, acquired 2,355,906 shares growing their stake by 172.6% while Ubs Group enhanced their stake by buying 3,919 shares which is an increase of 196.4% as of 06/30/2017. Vident Investment Advisory offloaded their 1,288 shares decreasing their stake by 4.3%. Ariose Capital Management cut their ownership by offloading 5,000 shares.