65,456 Shares in BeOne Medicines Ltd. - Sponsored ADR $ONC Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies bought 65,456 shares of BeOne Medicines during the first quarter, worth approximately $19.4 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 48.55% of the company.
• Analysts remain broadly positive, with multiple firms raising price targets and issuing Buy or equivalent ratings. BeOne Medicines has a consensus “Moderate Buy” rating and an average price target of $394.
• BeOne Medicines opened at $322.08, with a market capitalization of about $35.3 billion. The company reported quarterly revenue of $1.51 billion and earnings of $0.25 per share, while insiders have sold approximately $104.9 million of stock over the past 90 days.

Renaissance Technologies LLC purchased a new position in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,456 shares of the company's stock, valued at approximately $19,438,000. Renaissance Technologies LLC owned approximately 0.06% of BeOne Medicines at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. EFG International AG bought a new stake in shares of BeOne Medicines in the 4th quarter valued at about $25,000. Daiwa Securities Group Inc. acquired a new position in BeOne Medicines during the second quarter worth approximately $35,000. Leonteq Securities AG bought a new stake in BeOne Medicines in the fourth quarter valued at approximately $35,000. CWM LLC raised its stake in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after buying an additional 39 shares during the period. Finally, Group One Trading LLC acquired a new stake in shares of BeOne Medicines in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 48.55% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on BeOne Medicines from $436.00 to $451.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their price target on BeOne Medicines from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Wall Street Zen raised shares of BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Guggenheim increased their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Truist Financial raised their target price on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

Insider Buying and Selling at BeOne Medicines

In related news, insider Lai Wang sold 1,068 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $276.74, for a total transaction of $295,558.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 664 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $302.46, for a total value of $200,833.44. Following the sale, the senior vice president directly owned 202 shares in the company, valued at $61,096.92. This represents a 76.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 343,360 shares of company stock worth $104,926,209. 6.19% of the stock is currently owned by company insiders.

BeOne Medicines Stock Performance

ONC opened at $322.08 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The business has a fifty day simple moving average of $293.39 and a 200 day simple moving average of $309.31. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The company has a market capitalization of $35.34 billion, a PE ratio of 72.05 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. Research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 5.93 EPS for the current year.

BeOne Medicines Company 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.

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