BeOne Medicines Ltd. - Sponsored ADR $ONC Shares Bought by AIA Group Ltd

Key Points

• AIA Group raised its stake in BeOne Medicines (ONC) by 31.4% to 32,303 shares (about $11.0M), and other large institutions — including Capital International, Primecap, Temasek, Marshall Wace and Bank of America — hold substantial positions, leaving institutional ownership at 48.55%.
• In the latest quarter ONC reported EPS of $0.58 — an EPS miss vs. $1.60 expected — while revenue of $1.50B beat estimates; the sell‑side consensus is a Moderate Buy with a $389.18 target, even as analysts forecast -5.82 EPS for the year.
• ONC shares opened at $282.29 with a market cap of ~$30.96B and a PE of 112.02, trading in a 52‑week range of $196.45–$385.22, and insiders have sold stock recently (insiders now own 6.62%).

AIA Group Ltd raised its stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 31.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,303 shares of the company's stock after purchasing an additional 7,716 shares during the period. AIA Group Ltd's holdings in BeOne Medicines were worth $11,006,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA acquired a new position in BeOne Medicines in the second quarter worth about $1,231,720,000. Capital International Investors raised its stake in BeOne Medicines by 3.3% during the third quarter. Capital International Investors now owns 5,046,058 shares of the company's stock valued at $1,716,883,000 after buying an additional 161,052 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in BeOne Medicines during the second quarter valued at approximately $244,603,000. Marshall Wace LLP bought a new position in BeOne Medicines during the 2nd quarter worth approximately $113,190,000. Finally, Bank of America Corp DE grew its position in shares of BeOne Medicines by 23.5% in the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company's stock worth $117,629,000 after acquiring an additional 65,763 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

BeOne Medicines Stock Down 1.8%

ONC stock opened at $282.29 on Thursday. The stock has a market cap of $30.96 billion, a PE ratio of 112.02 and a beta of 0.53. The firm's 50-day simple moving average is $332.21 and its 200 day simple moving average is $329.38. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $196.45 and a fifty-two week high of $385.22. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. As a group, sell-side analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 EPS for the current year.

Insider Activity

In related news, SVP Chan Henry Lee sold 1,660 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,665 shares of company stock worth $902,792 in the last three months. Insiders own 6.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ONC. Truist Financial lifted their price objective on shares of BeOne Medicines from $400.00 to $412.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Guggenheim raised their price target on shares of BeOne Medicines from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $405.00 price target on shares of BeOne Medicines in a report on Thursday, January 8th. Jefferies Financial Group lowered shares of BeOne Medicines from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $420.00 to $290.00 in a research note on Monday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of BeOne Medicines in a report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BeOne Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $389.18.

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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