AIA Group Ltd Acquires 3,430 Shares of BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• AIA Group Ltd increased its stake in BeOne Medicines by 15.1% in the first quarter, adding 3,430 shares to bring its total holdings to 26,077 shares valued at about $7.74 million.
• Insider selling was notable, including CEO John Oyler’s sale of 145,861 shares under a pre-arranged trading plan; insiders sold 233,647 shares worth about $70.3 million over the last 90 days.
• Analysts remain mostly positive on BeOne Medicines, with a consensus rating of “Moderate Buy” and an average price target of $390.92, though one recent downgrade to Hold slightly tempered sentiment.

AIA Group Ltd boosted its holdings in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 15.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,077 shares of the company's stock after purchasing an additional 3,430 shares during the period. AIA Group Ltd's holdings in BeOne Medicines were worth $7,744,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONC. Cetera Investment Advisers bought a new stake in shares of BeOne Medicines during the second quarter worth $455,000. Rhumbline Advisers bought a new position in shares of BeOne Medicines in the second quarter valued at about $275,000. Arrowstreet Capital Limited Partnership acquired a new position in BeOne Medicines during the 2nd quarter worth about $505,000. Invesco Ltd. acquired a new position in BeOne Medicines during the 2nd quarter worth about $422,000. Finally, EverSource Wealth Advisors LLC bought a new stake in BeOne Medicines during the 2nd quarter worth about $68,000. Institutional investors own 48.55% of the company's stock.

Insider Transactions at BeOne Medicines

In other news, insider Lai Wang sold 1,367 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the transaction, the insider owned 40 shares of the company's stock, valued at $10,775.20. The trade was a 97.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the company's stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 233,647 shares of company stock worth $70,335,553. 6.19% of the stock is currently owned by company insiders.

BeOne Medicines Price Performance

NASDAQ:ONC opened at $312.02 on Monday. BeOne Medicines Ltd. - Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $385.22. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $34.23 billion, a P/E ratio of 69.80 and a beta of 0.49. The stock's fifty day simple moving average is $290.21 and its 200-day simple moving average is $308.94.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion during the quarter. Equities research analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 5.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They issued an "overweight" rating and a $400.00 price objective for the company. Leerink Partners lifted their target price on BeOne Medicines from $364.00 to $367.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Citizens Jmp restated a "market outperform" rating and set a $396.00 target price on shares of BeOne Medicines in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their price target on BeOne Medicines from $436.00 to $451.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Finally, Zacks Research cut BeOne Medicines from a "strong-buy" rating to a "hold" rating in a report on Friday, July 3rd. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $390.92.

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. 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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