M&G PLC trimmed its position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Free Report) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,952 shares of the company’s stock after selling 30,493 shares during the quarter. M&G PLC’s holdings in BeOne Medicines were worth $70,620,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ONC. GAMMA Investing LLC lifted its stake in BeOne Medicines by 39.5% in the third quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock valued at $44,000 after buying an additional 34 shares during the period. Mather Group LLC. grew its position in shares of BeOne Medicines by 192.0% during the 3rd quarter. Mather Group LLC. now owns 73 shares of the company’s stock worth $27,000 after buying an additional 48 shares during the period. Signaturefd LLC increased its stake in shares of BeOne Medicines by 13.4% in the 3rd quarter. Signaturefd LLC now owns 414 shares of the company’s stock valued at $152,000 after acquiring an additional 49 shares during the last quarter. Steadtrust LLC increased its stake in shares of 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 acquiring an additional 50 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after acquiring an additional 52 shares during the period. 48.55% of the stock is owned by institutional investors.
BeOne Medicines Stock Performance
Shares of BeOne Medicines stock opened at $417.33 on Tuesday. The business’s fifty day simple moving average is $364.50 and its 200 day simple moving average is $326.72. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $420.00. The firm has a market capitalization of $45.82 billion, a P/E ratio of 66.51 and a beta of 0.63.
BeOne Medicines (NASDAQ:ONC – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $1.30. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.76 billion. As a group, analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current year.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Citigroup reiterated an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Royal Bank Of Canada raised their target price on shares of BeOne Medicines from $459.00 to $465.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company upped their target price on BeOne Medicines from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday. Nomura boosted their price target on BeOne Medicines from $454.75 to $484.91 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Barclays upped their price objective on BeOne Medicines from $415.00 to $446.00 and gave the stock an “overweight” rating in a research report on Friday. Sixteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.92.
Read Our Latest Stock Analysis on BeOne Medicines
Insider Buying and Selling at BeOne Medicines
In other BeOne Medicines news, insider Xiaodong Wang sold 31,028 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $362.97, for a total transaction of $11,262,233.16. Following the sale, the insider directly owned 31,028 shares in the company, valued at approximately $11,262,233.16. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 280 shares of BeOne Medicines stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $380.00, for a total value of $106,400.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 188,904 shares of company stock worth $67,515,078 in the last 90 days. Insiders own 6.19% of the company’s stock.
BeOne Medicines Company Profile
BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia.
Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.
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