ABN Amro Investment Solutions Lowers Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

ABN Amro Investment Solutions reduced its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 39.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,197 shares of the company’s stock after selling 9,718 shares during the period. ABN Amro Investment Solutions’ holdings in BeOne Medicines were worth $5,178,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in shares of BeOne Medicines during the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $28,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines in the 2nd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC purchased a new stake in BeOne Medicines in the second quarter valued at approximately $68,000. Finally, FNY Investment Advisers LLC acquired a new position in BeOne Medicines during the second quarter worth $121,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ONC shares. Barclays lifted their price objective on BeOne Medicines from $385.00 to $394.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $420.00 target price on shares of BeOne Medicines in a research report on Monday, November 17th. Truist Financial set a $400.00 price target on shares of BeOne Medicines in a research note on Monday, November 24th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Thirteen 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.07.

Insider Activity

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,627 shares of BeOne Medicines stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $340.90, for a total transaction of $895,544.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Chan Henry Lee sold 1,660 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 105,283 shares of company stock worth $32,463,041. 6.62% of the stock is currently owned by corporate insiders.

BeOne Medicines Stock Down 0.1%

Shares of NASDAQ:ONC opened at $346.07 on Monday. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $196.45 and a fifty-two week high of $385.22. The firm’s 50 day moving average price is $329.70 and its 200 day moving average price is $327.17. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The stock has a market cap of $37.95 billion, a price-to-earnings ratio of 678.57 and a beta of 0.52.

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.