Persistent Asset Partners Ltd purchased a new position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,999 shares of the company’s stock, valued at approximately $607,000.
Other hedge funds have also bought and sold shares of the company. Leonteq Securities AG acquired a new position in BeOne Medicines in the fourth quarter worth about $35,000. Daiwa Securities Group Inc. acquired a new position in BeOne Medicines in the second quarter worth about $35,000. CWM LLC increased its stake in BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the last quarter. Group One Trading LLC bought a new stake in BeOne Medicines during the fourth quarter valued at $61,000. Finally, Farther Finance Advisors LLC increased its stake in BeOne Medicines by 21.8% during the fourth quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.
BeOne Medicines Stock Down 1.6%
Shares of BeOne Medicines stock opened at $263.92 on Wednesday. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $297.63 and its 200-day simple moving average is $313.49. The stock has a market capitalization of $28.96 billion, a price-to-earnings ratio of 59.04 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a twelve month low of $239.25 and a twelve month high of $385.22.
Insider Transactions at BeOne Medicines
In related news, CFO Aaron Rosenberg sold 631 shares of BeOne Medicines stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $257.74, for a total value of $162,633.94. Following the sale, the chief financial officer directly owned 397,891 shares in the company, valued at $102,552,426.34. This trade represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Titus B. Ball sold 169 shares of BeOne Medicines stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $257.20, for a total transaction of $43,466.80. Following the completion of the sale, the insider owned 99,645 shares in the company, valued at approximately $25,628,694. This represents a 0.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 14,657 shares of company stock worth $3,959,036 over the last 90 days. Corporate insiders own 6.19% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Leerink Partners boosted their target price on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Truist Financial reiterated a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th. Zacks Research upgraded shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Guggenheim boosted their target price on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $395.00 target price on shares of BeOne Medicines in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.
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.
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