BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Short Interest Up 24.1% in December

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,615,331 shares, an increase of 24.1% from the December 15th total of 1,302,017 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 233,897 shares, the short-interest ratio is presently 6.9 days. Based on an average daily volume of 233,897 shares, the short-interest ratio is presently 6.9 days. Approximately 1.6% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages have recently commented on ONC. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Truist Financial set a $400.00 target price on BeOne Medicines in a research report on Monday, November 24th. Morgan Stanley restated an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a research note on Thursday, January 8th. Citizens Jmp raised their price target on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.43.

BeOne Medicines Stock Down 0.0%

Shares of NASDAQ:ONC traded down $0.10 during trading on Monday, hitting $338.19. 153,660 shares of the company were exchanged, compared to its average volume of 275,438. BeOne Medicines has a fifty-two week low of $196.45 and a fifty-two week high of $385.22. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 663.12 and a beta of 0.47. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $330.41 and a two-hundred day moving average price of $317.93.

Insider Activity

In other BeOne Medicines news, CEO John Oyler sold 24,369 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total value of $7,380,639.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $340.90, for a total value of $895,544.30. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 128,610 shares of company stock valued at $41,114,068. 6.62% of the stock is currently owned by company insiders.

Institutional Trading of BeOne Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in shares of BeOne Medicines during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in BeOne Medicines in the 2nd quarter valued at about $28,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines during the second quarter worth approximately $35,000. Farther Finance Advisors LLC acquired a new stake in BeOne Medicines during the second quarter worth approximately $39,000. Finally, Signaturefd LLC bought a new stake in shares of BeOne Medicines during the second quarter worth approximately $49,000. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.