BeOne Medicines Ltd. – Sponsored ADR $ONC Shares Newly Purchased by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. bought a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,800 shares of the company’s stock, valued at approximately $5,416,000. BeOne Medicines comprises about 1.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds also recently modified their holdings of ONC. Mather Group LLC. grew its position in shares of BeOne Medicines by 192.0% during the 3rd quarter. Mather Group LLC. now owns 73 shares of the company’s stock worth $27,000 after buying an additional 48 shares during the period. GAMMA Investing LLC raised its stake in shares of BeOne Medicines by 39.5% during the third quarter. GAMMA Investing LLC now owns 120 shares of the company’s stock worth $44,000 after buying an additional 34 shares during the last quarter. Parallel Advisors LLC lifted its holdings in BeOne Medicines by 24.0% in the first quarter. Parallel Advisors LLC now owns 351 shares of the company’s stock valued at $104,000 after buying an additional 68 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in BeOne Medicines by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock valued at $110,000 after buying an additional 52 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in BeOne Medicines in the first quarter valued at approximately $201,000. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ONC shares. Nomura raised shares of BeOne Medicines to a “strong-buy” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price target on BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Thursday, October 1st. Guggenheim increased their price target on BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays raised their price target on BeOne Medicines from $407.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Finally, Citigroup reaffirmed an “outperform” rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $404.93.

Insider Activity

In other BeOne Medicines news, insider Xiaodong Wang sold 38,287 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $349.10, for a total value of $13,365,991.70. Following the sale, the insider directly owned 6,079 shares in the company, valued at approximately $2,122,178.90. This trade represents a 86.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Chan Lee sold 2,666 shares of BeOne Medicines stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $360.00, for a total transaction of $959,760.00. Following the transaction, the senior vice president directly owned 812 shares in the company, valued at approximately $292,320. This represents a 76.65% 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 have sold a total of 457,259 shares of company stock worth $158,876,315 in the last ninety days. Company insiders own 6.19% of the company’s stock.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $374.08 on Friday. 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 stock has a market cap of $41.07 billion, a PE ratio of 61.88 and a beta of 0.61. The stock has a 50-day moving average of $360.00 and a 200-day moving average of $321.32. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $253.95 and a one year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.

BeOne Medicines Company Profile

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.