Capital Group Private Client Services Inc. Reduces Stock Holdings in BeOne Medicines Ltd. – Sponsored ADR $ONC

Capital Group Private Client Services Inc. lowered its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 70.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,728 shares of the company’s stock after selling 104,885 shares during the period. Capital Group Private Client Services Inc.’s holdings in BeOne Medicines were worth $14,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its position in shares of BeOne Medicines by 4.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,281 shares of the company’s stock worth $436,000 after purchasing an additional 50 shares during the period. Penserra Capital Management LLC raised its stake in BeOne Medicines by 2.7% in the third quarter. Penserra Capital Management LLC now owns 2,981 shares of the company’s stock worth $1,015,000 after buying an additional 79 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in BeOne Medicines by 3.0% in the third quarter. Allianz Asset Management GmbH now owns 3,400 shares of the company’s stock worth $1,158,000 after buying an additional 100 shares during the period. Blue Trust Inc. boosted its position in BeOne Medicines by 11.7% during the 3rd quarter. Blue Trust Inc. now owns 967 shares of the company’s stock valued at $329,000 after acquiring an additional 101 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in BeOne Medicines during the 2nd quarter valued at approximately $26,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ONC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Barclays upped their price target on BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Truist Financial raised their price objective on BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wall Street Zen cut shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a research report on Thursday, January 8th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $401.00.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 75,631 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $307.79, for a total transaction of $23,278,465.49. Following the completion of the transaction, the chief executive officer owned 24,369 shares of the company’s stock, valued at approximately $7,500,534.51. This trade represents a 75.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Chan Henry Lee sold 1,660 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The SEC filing for this sale provides additional information. Insiders have sold a total of 102,656 shares of company stock valued at $31,567,496 over the last 90 days. Insiders own 6.62% of the company’s stock.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $302.29 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 3.08 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $335.51 and its 200 day moving average price is $330.31. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $196.45 and a 52 week high of $385.22. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 119.96 and a beta of 0.53.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.02). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. BeOne Medicines had a return on equity of 10.70% and a net margin of 5.37%. As a group, research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

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.