SEB Asset Management AB Invests $16.65 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

SEB Asset Management AB acquired a new position in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 56,078 shares of the company’s stock, valued at approximately $16,653,000. SEB Asset Management AB owned about 0.05% of BeOne Medicines at the end of the most recent reporting period.

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

BeOne Medicines Stock Down 0.5%

ONC stock opened at $310.58 on Tuesday. The firm’s fifty day simple moving average is $290.21 and its 200-day simple moving average is $308.99. The company has a market capitalization of $34.08 billion, a P/E ratio of 69.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. 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 released its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The firm had revenue of $1.51 billion for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, equities research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share for the current year.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 145,861 shares of the stock in a transaction dated 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 directly owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. This trade represents a 94.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lai Wang sold 1,068 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $276.74, for a total value of $295,558.32. 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 sold a total of 233,647 shares of company stock valued at $70,335,553 in the last three months. Company insiders own 6.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ONC shares. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Wells Fargo & Company assumed coverage on BeOne Medicines in a research report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price objective for the company. Guggenheim boosted their target price on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Finally, Leerink Partners increased their price target on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.92.

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.