BeOne Medicines Ltd. – Sponsored ADR $ONC Shares Sold by Long Corridor Asset Management Ltd

Long Corridor Asset Management Ltd lowered its position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 21.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,731 shares of the company’s stock after selling 2,169 shares during the quarter. BeOne Medicines comprises about 0.2% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 15th largest position. Long Corridor Asset Management Ltd’s holdings in BeOne Medicines were worth $2,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its position in BeOne Medicines by 20.1% during the 3rd quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock worth $8,557,000 after acquiring an additional 4,205 shares during the period. BNP Paribas Financial Markets lifted its position in BeOne Medicines by 100.6% during the 4th quarter. BNP Paribas Financial Markets now owns 193,951 shares of the company’s stock worth $58,924,000 after acquiring an additional 97,244 shares during the period. Slow Capital Inc. lifted its position in BeOne Medicines by 51.5% during the 4th quarter. Slow Capital Inc. now owns 27,301 shares of the company’s stock worth $8,294,000 after acquiring an additional 9,280 shares during the period. Generali Investments Management Co LLC acquired a new stake in BeOne Medicines during the 3rd quarter worth about $2,726,000. Finally, Capital International Sarl lifted its position in BeOne Medicines by 2.7% during the 4th quarter. Capital International Sarl now owns 152,515 shares of the company’s stock worth $46,336,000 after acquiring an additional 3,956 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, insider Lai Wang sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46. Following the completion of the sale, the insider directly owned 40 shares in the company, valued at approximately $10,775.20. The trade was a 97.16% decrease in their position. The transaction was disclosed in a filing 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 4,940 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $270.56, for a total value of $1,336,566.40. Following the sale, the chief executive officer owned 1,120 shares of the company’s stock, valued at approximately $303,027.20. This trade represents a 81.52% decrease in their ownership of the stock. 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 10,098 shares of company stock worth $2,780,482 in the last quarter. Corporate insiders own 6.19% of the company’s stock.

BeOne Medicines Stock Performance

NASDAQ ONC opened at $260.27 on Friday. The stock 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 twelve month low of $239.25 and a twelve month high of $385.22. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. 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 posted its quarterly earnings data 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 company had revenue of $1.51 billion during the quarter. Sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $395.00 price objective on shares of BeOne Medicines in a report on Thursday, May 7th. Guggenheim boosted their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and decreased their price objective for the company from $420.00 to $290.00 in a report on Monday, March 16th. Truist Financial reissued a “buy” rating and issued a $413.00 price objective (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

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.