M&G PLC Invests $41.19 Million in BeOne Medicines Ltd. – Sponsored ADR $ONC

M&G PLC purchased a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 170,202 shares of the company’s stock, valued at approximately $41,189,000.

Several other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in BeOne Medicines during the second quarter valued at $28,000. Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $39,000. Signaturefd LLC bought a new position in shares of BeOne Medicines in the second quarter worth approximately $49,000. Parallel Advisors LLC purchased a new stake in BeOne Medicines in the second quarter valued at approximately $59,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at $121,000. Institutional investors own 48.55% of the company’s stock.

Insider Buying and Selling at BeOne Medicines

In other BeOne Medicines news, CEO John Oyler sold 27,803 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $325.71, for a total transaction of $9,055,715.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lai Wang sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total value of $1,750,300.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 96,203 shares of company stock worth $30,923,233. Insiders own 6.62% of the company’s stock.

BeOne Medicines Trading Up 4.4%

BeOne Medicines stock opened at $343.65 on Wednesday. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $170.99 and a 12 month high of $355.30. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $327.61 and its two-hundred day simple moving average is $289.50. The company has a market capitalization of $37.68 billion, a price-to-earnings ratio of 673.82 and a beta of 0.31.

Analyst Ratings Changes

Several research firms have issued reports on ONC. Morgan Stanley upped their price target on shares of BeOne Medicines from $350.00 to $383.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Guggenheim boosted their price objective on BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Zacks Research cut shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.33.

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.