Assetmark Inc. Increases Stock Holdings in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Assetmark Inc. increased its stake in BeOne Medicines by 19.2% in the first quarter, adding 4,755 shares to reach 29,569 shares valued at about $8.78 million.
• Several other institutional investors also adjusted their positions, and hedge funds/institutions now own about 48.55% of BeOne Medicines’ stock.
• Insiders sold shares recently, while analysts remain mostly constructive: the stock has a Moderate Buy consensus rating with an average price target of $390.92.

Assetmark Inc. boosted its holdings in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,569 shares of the company's stock after buying an additional 4,755 shares during the period. Assetmark Inc.'s holdings in BeOne Medicines were worth $8,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Mariner LLC grew its stake in shares of BeOne Medicines by 3.8% during the fourth quarter. Mariner LLC now owns 883 shares of the company's stock worth $269,000 after acquiring an additional 32 shares during the last quarter. Signaturefd LLC boosted its stake in BeOne Medicines by 10.7% in the 4th quarter. Signaturefd LLC now owns 340 shares of the company's stock worth $103,000 after purchasing an additional 33 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in BeOne Medicines by 21.8% in the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company's stock worth $66,000 after purchasing an additional 39 shares in the last quarter. CWM LLC grew its position in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company's stock worth $48,000 after purchasing an additional 39 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in BeOne Medicines by 8.0% during the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company's stock worth $210,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

Insider Activity

In related news, insider Lai Wang sold 1,068 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.74, for a total value of $295,558.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Xiaobin Wu sold 1,292 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 233,647 shares of company stock valued at $70,335,553. Insiders own 6.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ONC. Guggenheim raised their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Barclays cut their target price on BeOne Medicines from $409.00 to $403.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Wolfe Research assumed coverage on BeOne Medicines in a research note on Friday, March 27th. They issued an "outperform" rating and a $340.00 target price for the company. Royal Bank Of Canada lifted their price target on BeOne Medicines from $436.00 to $451.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Finally, Zacks Research downgraded BeOne Medicines from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $390.92.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $310.58 on Tuesday. 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 stock has a market capitalization of $34.08 billion, a price-to-earnings ratio of 69.48 and a beta of 0.49. The firm's 50 day simple moving average is $290.21 and its 200-day simple moving average is $308.99. BeOne Medicines Ltd. - Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) 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%. Analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 5.86 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.