BeOne Medicines Ltd. – Sponsored ADR $ONC Stock: State of Wyoming Trims Position

State of Wyoming decreased its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 33.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,764 shares of the company’s stock after selling 2,934 shares during the period. BeOne Medicines makes up 0.2% of State of Wyoming’s investment portfolio, making the stock its 26th largest position. State of Wyoming’s holdings in BeOne Medicines were worth $2,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in BeOne Medicines by 24.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,541 shares of the company’s stock worth $2,389,000 after purchasing an additional 1,284 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of BeOne Medicines in the third quarter worth about $206,000. Kingswood Wealth Advisors LLC bought a new position in shares of BeOne Medicines in the third quarter valued at approximately $205,000. Signaturefd LLC grew its stake in BeOne Medicines by 13.4% during the third quarter. Signaturefd LLC now owns 414 shares of the company’s stock valued at $152,000 after acquiring an additional 49 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in BeOne Medicines by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,706 shares of the company’s stock valued at $1,643,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Insider Activity at BeOne Medicines

In other news, insider Xiaodong Wang sold 38,287 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70. Following the sale, the insider owned 6,079 shares in the company, valued at approximately $2,122,178.90. The trade was a 86.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Rosenberg sold 1,157 shares of BeOne Medicines stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $312.71, for a total value of $361,805.47. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 377,530 shares of company stock valued at $135,209,959 in the last 90 days. 6.19% of the stock is owned by company insiders.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC opened at $370.33 on Friday. The stock’s 50-day moving average is $363.15 and its 200 day moving average is $325.44. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 65.20 and a beta of 0.61. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $388.66. 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 (NASDAQ:ONC) last released its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. On average, sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ONC shares. Wolfe Research restated an “outperform” rating and set a $370.00 price target on shares of BeOne Medicines in a research report on Monday, August 10th. Truist Financial increased their price objective on BeOne Medicines from $418.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Nomura lifted their price objective on BeOne Medicines from $454.75 to $484.91 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Citigroup restated an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $412.26.

BeOne Medicines Profile

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.