BeOne Medicines Ltd. – Sponsored ADR $ONC Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. reduced its position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 70.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,728 shares of the company’s stock after selling 104,885 shares during the period. Capital Group Private Client Services Inc.’s holdings in BeOne Medicines were worth $14,898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of BeOne Medicines during the second quarter worth $13,857,000. Mirae Asset Global Investments Co. Ltd. increased its stake in BeOne Medicines by 1,019.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after purchasing an additional 38,992 shares during the last quarter. Fiera Capital Corp increased its stake in BeOne Medicines by 20.1% in the third quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock valued at $8,557,000 after purchasing an additional 4,205 shares during the last quarter. Virtus Investment Advisers LLC purchased a new position in BeOne Medicines during the second quarter worth about $389,000. Finally, Baird Financial Group Inc. acquired a new stake in BeOne Medicines in the 2nd quarter worth about $82,895,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Chan Henry Lee sold 1,660 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 75,631 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $307.79, for a total value of $23,278,465.49. Following the completion of the transaction, the chief executive officer directly owned 24,369 shares in the company, valued at $7,500,534.51. This trade represents a 75.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 102,656 shares of company stock worth $31,567,496. Insiders own 6.62% of the company’s stock.

BeOne Medicines Stock Performance

NASDAQ ONC opened at $302.29 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 3.08. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $196.45 and a 1-year high of $385.22. The firm has a market capitalization of $33.15 billion, a P/E ratio of 119.96 and a beta of 0.53. The business’s 50-day simple moving average is $335.51 and its 200-day simple moving average is $330.31.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.60 by ($1.02). The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. Equities analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Guggenheim lifted their price target on BeOne Medicines from $400.00 to $410.00 and gave the company a “buy” rating in a report on Friday, February 27th. Sanford C. Bernstein raised shares of BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price on the stock in a research report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, January 21st. Royal Bank Of Canada upped their price target on shares of BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 price target on shares of BeOne Medicines in a research note on Monday, November 17th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $401.00.

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.