BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Short Interest Update

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 1,356,462 shares, a decline of 16.0% from the December 31st total of 1,615,331 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 372,552 shares, the days-to-cover ratio is currently 3.6 days. Based on an average daily volume of 372,552 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ONC. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BeOne Medicines in a research report on Wednesday, December 17th. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of BeOne Medicines in a research note on Thursday, January 8th. Citizens Jmp increased their target price on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.43.

BeOne Medicines Trading Down 2.7%

Shares of NASDAQ ONC opened at $340.38 on Monday. BeOne Medicines has a 1-year low of $196.45 and a 1-year high of $385.22. The business has a fifty day moving average price of $326.85 and a 200 day moving average price of $323.40. The stock has a market capitalization of $37.33 billion, a P/E ratio of 667.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, COO Xiaobin Wu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $356.02, for a total value of $3,560,200.00. Following the transaction, the chief operating officer directly owned 6,009 shares in the company, valued at $2,139,324.18. This represents a 62.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $340.90, for a total transaction of $895,544.30. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 128,610 shares of company stock valued at $41,114,068. Company insiders own 6.62% of the company’s stock.

Institutional Trading of BeOne Medicines

A number of institutional investors have recently modified their holdings of ONC. Jennison Associates LLC grew its position in shares of BeOne Medicines by 3.9% in the 4th quarter. Jennison Associates LLC now owns 76,438 shares of the company’s stock worth $23,223,000 after buying an additional 2,840 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in BeOne Medicines by 78.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,556 shares of the company’s stock valued at $1,080,000 after acquiring an additional 1,561 shares in the last quarter. UBS Group AG grew its holdings in BeOne Medicines by 45.0% in the fourth quarter. UBS Group AG now owns 152,087 shares of the company’s stock worth $46,206,000 after purchasing an additional 47,172 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BeOne Medicines by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,811 shares of the company’s stock worth $1,158,000 after purchasing an additional 724 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of BeOne Medicines by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 19,998 shares of the company’s stock valued at $6,205,000 after purchasing an additional 88 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.