ADAR1 Capital Management LLC Makes New Investment in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• ADAR1 Capital Management initiated a position in BeOne Medicines, buying 11,701 shares valued at approximately $3.48 million. Institutional investors and hedge funds collectively own 48.55% of the company.
• BeOne Medicines insiders have been selling shares, including CEO John Oyler’s sale of 145,861 shares worth $44.6 million under a pre-arranged Rule 10b5-1 plan. Insiders sold approximately $104.9 million of stock over the past three months.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and a $394 average price target, above its recent $330.46 price. The company reported quarterly revenue of $1.51 billion and earnings of $0.25 per share.

ADAR1 Capital Management LLC purchased a new stake in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 11,701 shares of the company's stock, valued at approximately $3,475,000.

Other hedge funds also recently modified their holdings of the company. EFG International AG acquired a new stake in shares of BeOne Medicines in the fourth quarter valued at $25,000. Leonteq Securities AG bought a new stake in BeOne Medicines in the fourth quarter worth about $35,000. Daiwa Securities Group Inc. acquired a new stake in BeOne Medicines in the 2nd quarter valued at about $35,000. CWM LLC lifted its holdings in BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company's stock valued at $48,000 after acquiring an additional 39 shares during the last quarter. Finally, Group One Trading LLC acquired a new stake in BeOne Medicines in the 4th quarter valued at about $61,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BeOne Medicines

In related 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 value of $44,626,172.95. Following the completion of the sale, the chief executive officer directly owned 8,122 shares of the company's stock, valued at approximately $2,484,925.90. This represents a 94.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of BeOne Medicines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.37, for a total value of $399,745.08. Following the transaction, the chief operating officer directly owned 40 shares in the company, valued at approximately $10,774.80. This trade represents a 97.38% decrease in their position. 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 have sold 343,360 shares of company stock worth $104,926,209 over the last three months. 6.19% of the stock is owned by insiders.

BeOne Medicines Stock Up 1.4%

Shares of NASDAQ:ONC opened at $330.46 on Wednesday. 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 company has a market cap of $36.26 billion, a PE ratio of 73.93 and a beta of 0.49. BeOne Medicines Ltd. - Sponsored ADR has a 52 week low of $253.95 and a 52 week high of $385.22. The firm has a 50 day simple moving average of $292.77 and a 200 day simple moving average of $309.37.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted 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, research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 5.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ONC. Morgan Stanley reaffirmed an "overweight" rating and issued a $395.00 price objective on shares of BeOne Medicines in a research note on Thursday, May 7th. Barclays cut their target price on shares of BeOne Medicines from $409.00 to $403.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They issued an "overweight" rating and a $400.00 price target on the stock. Wall Street Zen raised BeOne Medicines from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Finally, Nomura upgraded BeOne Medicines to a "strong-buy" rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, BeOne Medicines currently has an average rating of "Moderate Buy" and a consensus target price of $394.00.

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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