BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Short Interest Up 24.1% in December

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,615,331 shares, an increase of 24.1% from the December 15th total of 1,302,017 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 233,897 shares, the days-to-cover ratio is currently 6.9 days. Based on an average daily volume of 233,897 shares, the days-to-cover ratio is currently 6.9 days. Currently, 1.6% of the shares of the company are short sold.

Insider Transactions at BeOne Medicines

In other news, SVP Chan Henry Lee sold 996 shares of BeOne Medicines stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $349.17, for a total value of $347,773.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total transaction of $895,544.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 128,610 shares of company stock worth $41,114,068. 6.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently made changes to their positions in ONC. Anchor Investment Management LLC purchased a new stake in BeOne Medicines during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BeOne Medicines during the 2nd quarter valued at approximately $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth approximately $35,000. Farther Finance Advisors LLC acquired a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $39,000. Finally, Signaturefd LLC purchased a new position in BeOne Medicines in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ONC. JPMorgan Chase & Co. upped their target price on shares of BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Truist Financial set a $400.00 price objective on BeOne Medicines in a research note on Monday, November 24th. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley reissued an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.43.

BeOne Medicines Stock Performance

Shares of ONC stock traded down $7.82 during trading hours on Tuesday, reaching $330.37. 44,896 shares of the company’s stock were exchanged, compared to its average volume of 329,310. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. BeOne Medicines has a 1 year low of $196.45 and a 1 year high of $385.22. The company has a market cap of $36.23 billion, a P/E ratio of 647.78 and a beta of 0.47. The company’s 50 day moving average is $330.41 and its two-hundred day moving average is $317.93.

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.