Nykredit A S Buys New Position in BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Nykredit A/S acquired 4,225 BeOne Medicines shares in the second quarter, valued at approximately $1.2 million. Hedge funds and other institutional investors own 48.55% of the company.
• BeOne Medicines insiders sold approximately $199.3 million in stock over the past three months, including substantial sales by CEO John Oyler and SVP Chan Lee under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and average price target of $402.71. The company also exceeded quarterly expectations, reporting $2.05 EPS versus a $1.40 estimate and $1.71 billion in revenue.

Nykredit A S acquired a new position in shares of BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,225 shares of the company's stock, valued at approximately $1,204,000.

Other large investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in shares of BeOne Medicines during the fourth quarter valued at approximately $35,000. Global Retirement Partners LLC boosted its holdings in shares of BeOne Medicines by 1,051.7% during the fourth quarter. Global Retirement Partners LLC now owns 334 shares of the company's stock worth $101,000 after purchasing an additional 305 shares during the period. Parallel Advisors LLC boosted its holdings in shares of BeOne Medicines by 24.0% during the first quarter. Parallel Advisors LLC now owns 351 shares of the company's stock worth $104,000 after purchasing an additional 68 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of BeOne Medicines by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company's stock worth $110,000 after purchasing an additional 52 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of BeOne Medicines during the first quarter valued at approximately $201,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Chan Lee sold 2,666 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $360.00, for a total transaction of $959,760.00. Following the completion of the sale, the senior vice president owned 812 shares of the company's stock, valued at $292,320. This represents a 76.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total value of $44,626,172.95. Following the transaction, the chief executive officer directly owned 8,122 shares in the company, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 600,832 shares of company stock worth $199,333,368 in the last three months. Insiders own 6.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on ONC shares. Morgan Stanley restated an "overweight" rating on shares of BeOne Medicines in a report on Thursday, August 6th. Guggenheim raised their target price on BeOne Medicines from $420.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wolfe Research restated an "outperform" rating and set a $370.00 price target on shares of BeOne Medicines in a research report on Monday, August 10th. Citizens Jmp upped their price target on BeOne Medicines from $396.00 to $405.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada lowered their price target on shares of BeOne Medicines from $451.00 to $450.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines currently has a consensus rating of "Buy" and an average target price of $402.71.

BeOne Medicines Stock Up 0.7%

NASDAQ:ONC opened at $368.08 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.06 and a current ratio of 3.40. The firm has a market cap of $40.41 billion, a P/E ratio of 64.80 and a beta of 0.51. BeOne Medicines Ltd. - Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The firm has a 50-day simple moving average of $346.79 and a two-hundred day simple moving average of $312.60.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. Analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 earnings per share for the current fiscal year.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global biotechnology company focused on the discovery, development and commercialization of medicines for cancer and other serious diseases. The company works across research, clinical development, manufacturing and commercialization, with the goal of expanding access to innovative treatments in markets around the world.

BeOne's commercial portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used to treat certain B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy approved in multiple markets for several cancer indications.

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