Hsbc Holdings PLC Buys 2,377 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Hsbc Holdings PLC lifted its stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 180.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,694 shares of the company’s stock after purchasing an additional 2,377 shares during the quarter. Hsbc Holdings PLC’s holdings in BeOne Medicines were worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers purchased a new position in BeOne Medicines during the second quarter worth $455,000. Rhumbline Advisers bought a new position in BeOne Medicines during the second quarter valued at $275,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of BeOne Medicines in the second quarter valued at $505,000. Invesco Ltd. purchased a new stake in shares of BeOne Medicines in the second quarter valued at $422,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter worth about $68,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Insider Buying and Selling

In related news, CEO John Oyler sold 4,940 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $270.56, for a total value of $1,336,566.40. Following the transaction, the chief executive officer owned 1,120 shares of the company’s stock, valued at $303,027.20. This represents a 81.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lai Wang sold 1,367 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $269.38, for a total value of $368,242.46. Following the completion of the sale, the insider owned 40 shares of the company’s stock, valued at $10,775.20. This represents a 97.16% decrease in their ownership of the stock. 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 have sold a total of 27,568 shares of company stock valued at $7,452,336 over the last quarter. 6.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Leerink Partners lifted their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Zacks Research lowered shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 3rd. Truist Financial raised their price objective on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating and set a $395.00 target price on shares of BeOne Medicines in a research report on Thursday, May 7th. Finally, Barclays upped their target price on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $391.38.

BeOne Medicines Price Performance

BeOne Medicines stock opened at $303.96 on Tuesday. The stock has a market cap of $33.35 billion, a price-to-earnings ratio of 68.00 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $249.12 and a 1 year high of $385.22. The firm has a 50-day moving average of $290.06 and a two-hundred day moving average of $308.94.

BeOne Medicines (NASDAQ:ONC) last issued its earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. The business had revenue of $1.51 billion for the quarter. On average, research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 earnings per share for the current year.

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.