BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Sees Large Growth in Short Interest

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,615,331 shares, a growth of 24.1% from the December 15th total of 1,302,017 shares. Based on an average trading volume of 233,897 shares, the short-interest ratio is presently 6.9 days. Currently, 1.6% of the company’s stock are sold short. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 233,897 shares, the short-interest ratio is presently 6.9 days.

Analyst Ratings Changes

ONC has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a report on Monday, November 10th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price on the stock in a report on Monday, January 12th. Finally, Citizens Jmp lifted their target price on BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $378.43.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC traded down $0.10 during midday trading on Monday, reaching $338.19. The company’s stock had a trading volume of 153,660 shares, compared to its average volume of 275,438. The stock has a market capitalization of $37.09 billion, a P/E ratio of 663.12 and a beta of 0.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The firm has a 50 day moving average price of $330.23 and a 200-day moving average price of $317.27. BeOne Medicines has a 12-month low of $196.45 and a 12-month high of $385.22.

Insider Transactions at BeOne Medicines

In related news, SVP Chan Henry Lee sold 664 shares of BeOne Medicines stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $331.76, for a total value of $220,288.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Xiaobin Wu sold 3,991 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $380.43, for a total transaction of $1,518,296.13. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 128,610 shares of company stock worth $41,114,068. Insiders own 6.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ONC. Anchor Investment Management LLC purchased a new position in shares of BeOne Medicines in the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth approximately $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth approximately $35,000. Farther Finance Advisors LLC bought a new stake in shares of BeOne Medicines in the 2nd quarter worth approximately $39,000. Finally, Signaturefd LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $49,000. Institutional investors own 48.55% of the company’s stock.

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.