ABN Amro Investment Solutions Purchases 15,488 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

ABN Amro Investment Solutions boosted its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 48.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 47,564 shares of the company’s stock after acquiring an additional 15,488 shares during the quarter. ABN Amro Investment Solutions’ holdings in BeOne Medicines were worth $14,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONC. Capital International Investors increased its position in shares of BeOne Medicines by 1.3% during the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock worth $1,553,909,000 after acquiring an additional 67,808 shares in the last quarter. Siren L.L.C. lifted its position in BeOne Medicines by 1.4% in the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock valued at $151,905,000 after acquiring an additional 7,010 shares in the last quarter. Morgan Stanley boosted its stake in BeOne Medicines by 23.9% during the 4th quarter. Morgan Stanley now owns 437,661 shares of the company’s stock valued at $132,966,000 after purchasing an additional 84,367 shares during the last quarter. Bank of America Corp DE boosted its stake in BeOne Medicines by 23.5% during the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock valued at $117,629,000 after purchasing an additional 65,763 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after purchasing an additional 62,470 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lai Wang sold 1,068 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total transaction of $295,558.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the transaction, the chief executive officer owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 233,647 shares of company stock valued at $70,335,553. 6.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ONC shares. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. Leerink Partners upped their price target on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Truist Financial increased their price target on BeOne Medicines from $413.00 to $416.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating and set a $395.00 price objective on shares of BeOne Medicines in a research note on Thursday, May 7th. Finally, Guggenheim lifted their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.92.

BeOne Medicines Stock Performance

ONC stock opened at $318.68 on Wednesday. The firm has a market cap of $34.97 billion, a PE ratio of 71.29 and a beta of 0.49. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $290.28 and a 200-day moving average of $309.09. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month 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. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion for the quarter. As a group, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share 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.