AIA Group Ltd Acquires 3,430 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

AIA Group Ltd increased its holdings in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 15.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,077 shares of the company’s stock after purchasing an additional 3,430 shares during the quarter. AIA Group Ltd’s holdings in BeOne Medicines were worth $7,744,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ONC. Jennison Associates LLC lifted its stake in BeOne Medicines by 102.1% in the first quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares in the last quarter. Assetmark Inc. raised its stake in shares of BeOne Medicines by 19.2% in the 1st quarter. Assetmark Inc. now owns 29,569 shares of the company’s stock valued at $8,781,000 after purchasing an additional 4,755 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of BeOne Medicines in the 1st quarter valued at about $201,000. Bank of New York Mellon Corp lifted its holdings in shares of BeOne Medicines by 66.8% in the first quarter. Bank of New York Mellon Corp now owns 4,632 shares of the company’s stock valued at $1,376,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of BeOne Medicines by 3.4% in the first quarter. Sanctuary Advisors LLC now owns 2,982 shares of the company’s stock valued at $886,000 after purchasing an additional 99 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONC has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Wolfe Research started coverage on BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 target price on the stock. Wells Fargo & Company began coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target for the company. Guggenheim raised 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. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BeOne Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $390.92.

BeOne Medicines Price Performance

NASDAQ:ONC opened at $312.02 on Monday. 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’s 50-day simple moving average is $290.21 and its 200 day simple moving average is $308.94. The company has a market cap of $34.23 billion, a P/E ratio of 69.80 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The firm 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, sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Oyler sold 145,861 shares of the company’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the sale, the chief executive officer owned 8,122 shares in the company, valued at $2,484,925.90. This represents a 94.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lai Wang sold 1,367 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the sale, the insider directly owned 40 shares of the company’s stock, valued at approximately $10,775.20. The trade was a 97.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 233,647 shares of company stock valued at $70,335,553 in the last 90 days. 6.19% of the stock is currently owned by insiders.

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.