30,493 BeOne Medicines Ltd. - Sponsored ADR $ONC Shares Sold by M&G PLC

Key Points

• M&G PLC cut its BeOne Medicines stake by 13.6%, selling 30,493 shares in the third quarter; it retained 192,952 shares, valued at about $70.6 million.
• BeOne reported quarterly EPS of $3.64, beating the $2.34 consensus, while revenue of $1.89 billion also topped estimates of $1.76 billion.
• Analyst sentiment was broadly positive: 16 analysts rated the stock Buy and one Hold, with a “Moderate Buy” consensus and an average price target of $436.92.

M&G PLC decreased its stake in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,952 shares of the company's stock after selling 30,493 shares during the period. M&G PLC owned 0.18% of BeOne Medicines worth $70,620,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mather Group LLC. increased its stake in shares of BeOne Medicines by 192.0% in the third quarter. Mather Group LLC. now owns 73 shares of the company's stock worth $27,000 after buying an additional 48 shares during the last quarter. GAMMA Investing LLC grew its holdings in BeOne Medicines by 39.5% during the 3rd quarter. GAMMA Investing LLC now owns 120 shares of the company's stock worth $44,000 after acquiring an additional 34 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in BeOne Medicines during the 3rd quarter worth $106,000. Parallel Advisors LLC grew its holdings in BeOne Medicines by 24.0% during the 1st quarter. Parallel Advisors LLC now owns 351 shares of the company's stock worth $104,000 after acquiring an additional 68 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company's stock worth $110,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeOne Medicines Trading Up 2.5%

BeOne Medicines stock opened at $417.33 on Tuesday. The firm's 50-day moving average is $364.50 and its 200-day moving average is $326.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $420.00. The company has a market cap of $45.82 billion, a P/E ratio of 66.51 and a beta of 0.63.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $1.30. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, equities analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ONC. Citizens Jmp increased their price target on shares of BeOne Medicines from $405.00 to $463.00 and gave the stock a "market outperform" rating in a research report on Friday. Truist Financial reissued a "buy" rating and issued a $448.00 price objective (up from $420.00) on shares of BeOne Medicines in a report on Friday. Weiss Ratings raised BeOne Medicines from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Morgan Stanley restated an "overweight" rating and set a $425.00 price objective on shares of BeOne Medicines in a research note on Friday, October 16th. Finally, TD Cowen increased their target price on BeOne Medicines from $424.00 to $454.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, BeOne Medicines currently has a consensus rating of "Moderate Buy" and an average price target of $436.92.

Insider Buying and Selling

In other BeOne Medicines news, insider Xiaodong Wang sold 38,287 shares of BeOne Medicines stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70. Following the completion of the transaction, the insider directly owned 6,079 shares in the company, valued at $2,122,178.90. The trade was a 86.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Chan Lee sold 1,115 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $400.82, for a total value of $446,914.30. Following the transaction, the senior vice president directly owned 455 shares of the company's stock, valued at $182,373.10. This trade represents a 71.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 188,904 shares of company stock valued at $67,515,078 over the last 90 days. 6.19% of the stock is owned by corporate insiders.

BeOne Medicines Profile

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia.

Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.

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