Temasek Holdings Private Ltd Sells 91,877 Shares of BeOne Medicines Ltd. - Sponsored ADR $ONC

Key Points

• Temasek Holdings cut its BeOne Medicines stake by 9.1% in the fourth quarter, selling 91,877 shares and leaving it with 919,587 shares worth about $279.4 million.
• Several other institutional investors also adjusted their positions, while hedge funds and institutions still hold 48.55% of BeOne Medicines’ stock.
• Insiders sold shares in June, including Lai Wang and SVP Chan Henry Lee, with recent insider sales totaling 14,657 shares worth about $3.96 million over the past three months.

Temasek Holdings Private Ltd lowered its stake in BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 919,587 shares of the company's stock after selling 91,877 shares during the quarter. BeOne Medicines makes up 0.9% of Temasek Holdings Private Ltd's investment portfolio, making the stock its 21st largest position. Temasek Holdings Private Ltd owned about 0.84% of BeOne Medicines worth $279,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mariner LLC lifted its holdings in shares of BeOne Medicines by 3.8% in the fourth quarter. Mariner LLC now owns 883 shares of the company's stock worth $269,000 after buying an additional 32 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of BeOne Medicines by 10.7% in the fourth quarter. Signaturefd LLC now owns 340 shares of the company's stock worth $103,000 after buying an additional 33 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of BeOne Medicines by 21.8% in the fourth quarter. Farther Finance Advisors LLC now owns 218 shares of the company's stock worth $66,000 after buying an additional 39 shares in the last quarter. CWM LLC raised its holdings in shares of 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 in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of BeOne Medicines by 8.0% in the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company's stock valued at $210,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

Insider Activity at BeOne Medicines

In related news, insider Lai Wang sold 1,367 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46. Following the transaction, the insider directly owned 40 shares in the company, 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 through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 871 shares of BeOne Medicines stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $270.42, for a total value of $235,535.82. Following the sale, the senior vice president directly owned 160 shares of the company's stock, valued at approximately $43,267.20. This represents a 84.48% 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 sold a total of 14,657 shares of company stock worth $3,959,036 over the last three months. Corporate insiders own 6.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ONC. Guggenheim raised their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Barclays lifted their price objective on BeOne Medicines from $405.00 to $409.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Jefferies Financial Group lowered BeOne Medicines from a "buy" rating to a "hold" rating and dropped their price target for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Finally, Wolfe Research initiated coverage on BeOne Medicines in a research report on Friday, March 27th. They set an "outperform" rating and a $340.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $390.00.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $268.20 on Tuesday. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. BeOne Medicines Ltd. - Sponsored ADR has a 12-month low of $239.25 and a 12-month high of $385.22. The stock has a 50-day moving average price of $298.56 and a 200 day moving average price of $314.03. The stock has a market capitalization of $29.43 billion, a P/E ratio of 60.00 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. Equities research analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 EPS for the current fiscal year.

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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