JPMorgan Chase & Co. Sells 47,002 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

JPMorgan Chase & Co. lowered its stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 49.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,812 shares of the company’s stock after selling 47,002 shares during the period. JPMorgan Chase & Co.’s holdings in BeOne Medicines were worth $16,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ONC. Sequoia Financial Advisors LLC increased its position in BeOne Medicines by 4.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,281 shares of the company’s stock valued at $436,000 after buying an additional 50 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of BeOne Medicines by 2.7% during the third quarter. Penserra Capital Management LLC now owns 2,981 shares of the company’s stock valued at $1,015,000 after acquiring an additional 79 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of BeOne Medicines by 3.0% during the third quarter. Allianz Asset Management GmbH now owns 3,400 shares of the company’s stock worth $1,158,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. lifted its holdings in shares of BeOne Medicines by 11.7% in the 3rd quarter. Blue Trust Inc. now owns 967 shares of the company’s stock worth $329,000 after purchasing an additional 101 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in BeOne Medicines in the 2nd quarter valued at $26,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeOne Medicines Stock Performance

Shares of ONC stock opened at $297.04 on Wednesday. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $196.45 and a one year high of $385.22. The company has a market cap of $32.57 billion, a P/E ratio of 117.87 and a beta of 0.53. The firm has a 50-day moving average of $336.53 and a 200-day moving average of $330.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.

BeOne Medicines (NASDAQ:ONC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 11.10%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Equities research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ONC. Barclays upped their price objective on shares of BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wall Street Zen downgraded shares of BeOne Medicines from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Guggenheim upped their target price on shares of BeOne Medicines from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Truist Financial raised their price target on shares of BeOne Medicines from $400.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Citigroup boosted their price objective on BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Eleven research 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’s stock. According to data from MarketBeat.com, BeOne Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.00.

Insiders Place Their Bets

In other BeOne Medicines news, SVP Chan Henry Lee sold 1,660 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $349.52, for a total value of $580,203.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Oyler sold 24,369 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $302.87, for a total value of $7,380,639.03. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,656 shares of company stock worth $31,567,496 over the last quarter. 6.62% of the stock is currently owned by corporate insiders.

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.