Generali Investments Management Co LLC Purchases Shares of 8,000 BeOne Medicines Ltd. – Sponsored ADR $ONC

Generali Investments Management Co LLC purchased a new position in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $2,280,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Trust Co purchased a new position in shares of BeOne Medicines during the second quarter valued at about $855,000. Steadtrust LLC boosted its stake in BeOne Medicines by 3.7% during the second quarter. Steadtrust LLC now owns 1,400 shares of the company’s stock valued at $399,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC purchased a new position in BeOne Medicines during the 1st quarter valued at approximately $201,000. Bank of America Corp DE increased its stake in BeOne Medicines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after acquiring an additional 26,441 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of BeOne Medicines during the 1st quarter worth approximately $3,475,000. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Stock Up 3.1%

Shares of NASDAQ ONC opened at $359.00 on Tuesday. 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 cap of $39.39 billion, a P/E ratio of 63.20 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $385.22. The firm has a 50-day simple moving average of $298.11 and a two-hundred day simple moving average of $308.86.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) 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 analyst estimates of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. Research analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONC has been the subject of a number of recent research reports. Royal Bank Of Canada cut their target price on shares of BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of BeOne Medicines in a research note on Thursday. Morgan Stanley restated an “overweight” rating on shares of BeOne Medicines in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Friday, July 17th. Finally, Wolfe Research reissued an “outperform” rating and set a $370.00 price objective on shares of BeOne Medicines in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BeOne Medicines currently has an average rating of “Moderate Buy” and an average target price of $402.14.

Insiders Place Their Bets

In related news, CFO Aaron Rosenberg sold 1,157 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $312.71, for a total transaction of $361,805.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 1,044 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $323.69, for a total value of $337,932.36. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 345,561 shares of company stock valued at $105,625,947 over the last quarter. 6.19% of the stock is currently owned by insiders.

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.