ABC Arbitrage SA Takes $836,000 Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

ABC Arbitrage SA bought a new stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,452 shares of the company’s stock, valued at approximately $836,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of BeOne Medicines in the second quarter valued at about $73,347,000. M&G PLC purchased a new position in BeOne Medicines in the second quarter valued at $41,189,000. Envestnet Asset Management Inc. acquired a new position in BeOne Medicines in the second quarter valued at approximately $15,061,000. Oppenheimer Asset Management Inc. purchased a new position in shares of BeOne Medicines in the 2nd quarter valued at $7,150,000. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $4,951,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, insider Titus B. Ball sold 122 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.76, for a total value of $39,864.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $337.00, for a total value of $898,105.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,267 shares of company stock valued at $18,740,356 over the last ninety days. Insiders own 6.62% of the company’s stock.

Analyst Ratings Changes

ONC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Guggenheim raised their price target on BeOne Medicines from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley increased their price target on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Citizens Jmp increased their price target on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.33.

BeOne Medicines Trading Up 9.8%

NASDAQ ONC opened at $377.47 on Thursday. The company’s fifty day moving average price is $328.43 and its two-hundred day moving average price is $290.11. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $170.99 and a 12 month high of $379.33. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of 740.14 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.

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.