JPMorgan Chase & Co. Has $16.63 Million Stock Position in BeOne Medicines Ltd. – Sponsored ADR $ONC

JPMorgan Chase & Co. cut its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 49.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,812 shares of the company’s stock after selling 47,002 shares during the quarter. JPMorgan Chase & Co.’s holdings in BeOne Medicines were worth $16,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ONC. Primecap Management Co. CA bought a new position in shares of BeOne Medicines in the second quarter worth about $1,231,720,000. Temasek Holdings Private Ltd bought a new position in BeOne Medicines in the 2nd quarter valued at approximately $244,603,000. Marshall Wace LLP bought a new position in BeOne Medicines in the 2nd quarter valued at approximately $113,190,000. Baird Financial Group Inc. acquired a new stake in BeOne Medicines in the second quarter valued at approximately $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of BeOne Medicines during the second quarter worth $73,347,000. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $420.00 price objective on shares of BeOne Medicines in a report on Monday, November 17th. Truist Financial lifted their price target on BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada boosted their price target on BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Barclays raised their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Wall Street Zen lowered shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a report on Saturday. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $401.00.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, SVP Chan Henry Lee sold 1,660 shares of BeOne Medicines 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 24,369 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $302.87, for a total value of $7,380,639.03. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 102,656 shares of company stock valued at $31,567,496. Company insiders own 6.62% of the company’s stock.

BeOne Medicines Stock Performance

NASDAQ:ONC opened at $297.04 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.39. 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 50 day simple moving average of $336.53 and a two-hundred day simple moving average of $330.73. The company has a market capitalization of $32.57 billion, a PE ratio of 117.87 and a beta of 0.53.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly 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 return on equity of 11.10% and a net margin of 5.37%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Research analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 earnings per share for the current 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.