Prasad Wealth Partners LLC Buys New Stake in BeOne Medicines Ltd. – Sponsored ADR $ONC

Prasad Wealth Partners LLC purchased a new stake in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,517 shares of the company’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also made changes to their positions in ONC. Envestnet Asset Management Inc. increased its holdings in shares of BeOne Medicines by 1.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 63,252 shares of the company’s stock valued at $21,550,000 after acquiring an additional 1,032 shares during the last quarter. Penserra Capital Management LLC lifted its stake in BeOne Medicines by 2.7% during the third quarter. Penserra Capital Management LLC now owns 2,981 shares of the company’s stock worth $1,015,000 after purchasing an additional 79 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in BeOne Medicines by 3.0% in the third quarter. Allianz Asset Management GmbH now owns 3,400 shares of the company’s stock valued at $1,158,000 after purchasing an additional 100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in BeOne Medicines by 1,019.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after purchasing an additional 38,992 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in BeOne Medicines during the third quarter worth approximately $256,000. 48.55% of the stock is owned by institutional investors and hedge funds.

BeOne Medicines Stock Down 1.4%

Shares of NASDAQ:ONC opened at $347.00 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $196.45 and a 1-year high of $385.22. 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 stock has a market cap of $38.05 billion, a P/E ratio of 680.39 and a beta of 0.52. The firm has a fifty day moving average price of $327.67 and a 200 day moving average price of $324.50.

Insider Buying and Selling at BeOne Medicines

In related news, SVP Chan Henry Lee sold 664 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $331.76, for a total transaction of $220,288.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total value of $895,544.30. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 128,610 shares of company stock worth $41,114,068 over the last three months. 6.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $405.00 target price on shares of BeOne Medicines in a report on Thursday, January 8th. Citizens Jmp boosted their price target on shares of BeOne Medicines from $348.00 to $396.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a $420.00 price objective on shares of BeOne Medicines in a research note on Monday, November 17th. 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 research report on Monday, January 12th. Finally, Truist Financial set a $400.00 target price on BeOne Medicines in a report on Monday, November 24th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.07.

BeOne Medicines 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.