Renaissance Technologies LLC Buys Shares of 65,456 BeOne Medicines Ltd. – Sponsored ADR $ONC

Renaissance Technologies LLC purchased a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 65,456 shares of the company’s stock, valued at approximately $19,438,000.

Several other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in BeOne Medicines by 100.6% during the fourth quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company’s stock valued at $58,924,000 after purchasing an additional 97,244 shares during the last quarter. SEB Asset Management AB purchased a new stake in shares of BeOne Medicines during the 1st quarter worth about $16,653,000. Capital International Sarl raised its stake in shares of BeOne Medicines by 2.7% during the 4th quarter. Capital International Sarl now owns 152,515 shares of the company’s stock worth $46,336,000 after purchasing an additional 3,956 shares in the last quarter. Slow Capital Inc. lifted its holdings in shares of BeOne Medicines by 51.5% during the 4th quarter. Slow Capital Inc. now owns 27,301 shares of the company’s stock valued at $8,294,000 after buying an additional 9,280 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after buying an additional 67,808 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insiders Place Their Bets

In other BeOne Medicines news, COO Xiaobin Wu sold 1,292 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 61,397 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $317.67, for a total value of $19,503,984.99. Following the completion of the transaction, the chief executive officer directly owned 9,180 shares in the company, valued at approximately $2,916,210.60. This represents a 86.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 343,360 shares of company stock worth $104,926,209 in the last 90 days. 6.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial increased their price objective on BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Guggenheim increased their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays cut their price target on shares of BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Citizens Jmp reiterated a “market outperform” rating and issued a $396.00 price objective on shares of BeOne Medicines in a report on Wednesday, July 1st. Finally, Nomura raised BeOne Medicines to a “strong-buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $322.08 on Friday. The firm has a market capitalization of $35.34 billion, a PE ratio of 72.05 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. 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 firm’s fifty day simple moving average is $293.39 and its 200 day simple moving average is $309.31.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. On average, sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 5.93 EPS for the current year.

About BeOne Medicines

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.