Charles Schwab Trust Co bought a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) during the second quarter, HoldingsChannel reports. The fund bought 3,000 shares of the company’s stock, valued at approximately $855,000.
Other institutional investors have also modified their holdings of the company. Steadtrust LLC raised its position in BeOne Medicines by 3.7% in the 2nd quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC acquired a new position in BeOne Medicines in the first quarter valued at $201,000. Bank of America Corp DE increased its stake in BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after purchasing an additional 26,441 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of BeOne Medicines in the first quarter valued at about $3,475,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of BeOne Medicines by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after buying an additional 52 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.
BeOne Medicines Price Performance
Shares of NASDAQ:ONC opened at $359.00 on Tuesday. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $253.95 and a 52 week high of $385.22. The company has a 50-day moving average price of $298.11 and a 200 day moving average price of $308.86. The company has a market cap of $39.39 billion, a P/E ratio of 63.20 and a beta of 0.49. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.
Insiders Place Their Bets
In related news, SVP Chan Henry Lee sold 1,044 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $323.69, for a total transaction of $337,932.36. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,292 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 345,561 shares of company stock valued at $105,625,947 in the last three months. 6.19% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on ONC. Royal Bank Of Canada decreased their target price on shares of BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on BeOne Medicines from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Truist Financial increased their price objective on BeOne Medicines from $416.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Guggenheim lifted their target price on BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $402.14.
View Our Latest Stock Analysis on BeOne Medicines
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.
Further Reading
- Five stocks we like better than BeOne Medicines
- SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat
- 3 Dividend Champion Utilities for a Market That Can’t Sit Still
- These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI
- First Solar’s Profit Engine Faces a New Policy Test in Washington
Want to see what other hedge funds are holding ONC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report).
Receive News & Ratings for BeOne Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeOne Medicines and related companies with MarketBeat.com's FREE daily email newsletter.
