Mirae Asset Global Investments Co. Ltd. Acquires 38,992 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Mirae Asset Global Investments Co. Ltd. grew its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 1,019.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 42,816 shares of the company’s stock after buying an additional 38,992 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BeOne Medicines were worth $14,587,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total transaction of $895,544.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Oyler sold 75,631 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $307.79, for a total transaction of $23,278,465.49. Following the completion of the transaction, the chief executive officer owned 24,369 shares of the company’s stock, valued at approximately $7,500,534.51. The trade was a 75.63% decrease in their ownership of the stock. 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. Corporate insiders own 6.62% of the company’s stock.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $340.38 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 business has a fifty day moving average price of $326.85 and a 200-day moving average price of $322.72. The company has a market capitalization of $37.33 billion, a PE ratio of 667.41 and a beta of 0.47.

Wall Street Analyst Weigh In

Several research firms have weighed in on ONC. Morgan Stanley reaffirmed an “overweight” rating and set a $405.00 price objective on shares of BeOne Medicines in a research report on Thursday, January 8th. JPMorgan Chase & Co. upped their price target on BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BeOne Medicines in a research report on Wednesday, December 17th. 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. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BeOne Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.43.

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.