Sei Investments Co. Cuts Stock Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

Sei Investments Co. cut its stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 35.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,321 shares of the company’s stock after selling 2,336 shares during the period. Sei Investments Co.’s holdings in BeOne Medicines were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONC. Mariner LLC grew its position in shares of BeOne Medicines by 3.8% in the fourth quarter. Mariner LLC now owns 883 shares of the company’s stock valued at $269,000 after purchasing an additional 32 shares during the period. CWM LLC boosted its holdings in BeOne Medicines by 32.8% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after buying an additional 39 shares during the last quarter. Farther Finance Advisors LLC increased its stake in BeOne Medicines by 21.8% during the 4th 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. Benjamin Edwards Inc. increased its stake 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 buying an additional 51 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of BeOne Medicines by 4.2% during the first quarter. Sequoia Financial Advisors LLC now owns 1,628 shares of the company’s stock valued at $483,000 after acquiring an additional 65 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BeOne Medicines

In other news, COO Xiaobin Wu sold 1,484 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the transaction, the chief operating officer owned 40 shares of the company’s stock, valued at $10,774.80. This represents a 97.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Oyler sold 145,861 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95. Following the transaction, the chief executive officer owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. This represents a 94.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 345,229 shares of company stock valued at $105,522,788 over the last quarter. 6.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONC shares. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They set an “overweight” rating and a $400.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of BeOne Medicines in a report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Finally, Wolfe Research reissued an “outperform” rating and issued a $370.00 price target on shares of BeOne Medicines in a research note on Monday. Three 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $402.14.

BeOne Medicines Price Performance

Shares of ONC stock opened at $359.27 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. The company has a market capitalization of $39.42 billion, a PE ratio of 63.25 and a beta of 0.49. The firm’s 50-day moving average is $299.80 and its two-hundred day moving average is $308.98. 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) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.65. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 earnings per share for the current year.

BeOne Medicines 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.