True Light Capital Pte. Ltd. Takes Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

True Light Capital Pte. Ltd. acquired a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,480 shares of the company’s stock, valued at approximately $1,057,000. BeOne Medicines accounts for 0.5% of True Light Capital Pte. Ltd.’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds also recently modified their holdings of the business. Bank of America Corp DE bought a new position in BeOne Medicines in the second quarter worth $67,657,000. Man Group plc bought a new position in BeOne Medicines in the second quarter worth $59,031,000. Capital International Investors lifted its position in BeOne Medicines by 3.3% in the third quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after purchasing an additional 161,052 shares during the period. BNP Paribas Financial Markets bought a new position in BeOne Medicines in the second quarter worth $38,337,000. Finally, Qube Research & Technologies Ltd bought a new position in BeOne Medicines in the second quarter worth $26,034,000. 48.55% of the stock is owned by institutional investors.

BeOne Medicines Stock Performance

Shares of NASDAQ:ONC opened at $293.09 on Tuesday. BeOne Medicines Ltd. – Sponsored ADR has a twelve month low of $228.93 and a twelve month high of $385.22. The firm has a market cap of $32.16 billion, a PE ratio of 65.57 and a beta of 0.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The business has a fifty day moving average of $300.42 and a 200-day moving average of $321.61.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share 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. On average, equities research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 5.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONC has been the subject of several research reports. Royal Bank Of Canada raised their target price on BeOne Medicines from $423.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $395.00 target price on shares of BeOne Medicines in a research report on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and issued a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Wolfe Research initiated coverage on BeOne Medicines in a research report on Friday, March 27th. They issued an “outperform” rating and a $340.00 target price for the company. Finally, Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and an average price target of $389.15.

Insider Buying and Selling at BeOne Medicines

In other news, SVP Chan Henry Lee sold 332 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $310.72, for a total value of $103,159.04. Following the completion of the sale, the senior vice president directly owned 101 shares in the company, valued at approximately $31,382.72. This trade represents a 76.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,005 shares of company stock valued at $308,907 in the last three months. Company insiders own 6.19% of the company’s stock.

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.