Candriam S.C.A. Sells 67,718 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Candriam S.C.A. lowered its holdings in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 24.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 212,568 shares of the company’s stock after selling 67,718 shares during the period. Candriam S.C.A.’s holdings in BeOne Medicines were worth $72,422,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA bought a new stake in shares of BeOne Medicines in the second quarter worth $1,231,720,000. Temasek Holdings Private Ltd acquired a new position in BeOne Medicines during the 2nd quarter worth about $244,603,000. Marshall Wace LLP bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $113,190,000. Baird Financial Group Inc. bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BeOne Medicines in the second quarter valued at about $73,347,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insider Transactions at BeOne Medicines

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $340.90, for a total value of $895,544.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 75,631 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $307.79, for a total value of $23,278,465.49. Following the completion of the sale, the chief executive officer directly owned 24,369 shares of the company’s stock, valued at $7,500,534.51. This trade represents a 75.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 130,270 shares of company stock valued at $41,694,271 in the last 90 days. Corporate insiders own 6.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ONC shares. Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Citizens Jmp raised their price target on shares of BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and set a $420.00 price objective on shares of BeOne Medicines in a research report on Monday, November 17th. Finally, Citigroup lifted their target price on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.07.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $353.92 on Monday. The firm has a market capitalization of $38.81 billion, a P/E ratio of 693.96 and a beta of 0.52. The firm’s 50-day moving average price is $327.94 and its 200-day moving average price is $325.35. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $196.45 and a 1-year high of $385.22.

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.