Long Corridor Asset Management Ltd Cuts Stock Holdings in BeOne Medicines Ltd. – Sponsored ADR $ONC

Long Corridor Asset Management Ltd cut its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 21.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,731 shares of the company’s stock after selling 2,169 shares during the quarter. BeOne Medicines makes up approximately 0.2% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 15th biggest position. Long Corridor Asset Management Ltd’s holdings in BeOne Medicines were worth $2,349,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Leonteq Securities AG purchased a new stake in shares of BeOne Medicines in the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines in the second quarter valued at approximately $35,000. CWM LLC grew its position in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares in the last quarter. Group One Trading LLC purchased a new stake in shares of BeOne Medicines in the fourth quarter valued at approximately $61,000. Finally, Farther Finance Advisors LLC grew its position in shares of BeOne Medicines by 21.8% in 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 in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ONC shares. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Monday, April 20th. Wolfe Research started coverage on BeOne Medicines in a research report on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target for the company. Guggenheim upped their price target on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays upped their price target on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $395.00 price target on shares of BeOne Medicines in a research report on Thursday, May 7th. Two equities 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $390.00.

BeOne Medicines Trading Down 1.3%

Shares of BeOne Medicines stock opened at $260.27 on Friday. The firm has a market capitalization of $28.56 billion, a price-to-earnings ratio of 58.23 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $239.25 and a fifty-two week high of $385.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The stock has a 50 day moving average of $300.30 and a 200 day moving average of $314.98.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. As a group, research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current year.

Insider Buying and Selling at BeOne Medicines

In other news, CEO John Oyler sold 4,940 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $270.56, for a total transaction of $1,336,566.40. Following the completion of the transaction, the chief executive officer directly owned 1,120 shares in the company, valued at $303,027.20. This trade represents a 81.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 871 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $270.42, for a total value of $235,535.82. Following the completion of the sale, the senior vice president owned 160 shares in the company, valued at approximately $43,267.20. The trade was a 84.48% 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. Over the last 90 days, insiders sold 10,098 shares of company stock valued at $2,780,482. Corporate insiders own 6.19% of the company’s stock.

BeOne Medicines 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.