Hsbc Holdings PLC Trims Stock Holdings in BeOne Medicines Ltd. – Sponsored ADR $ONC

Hsbc Holdings PLC decreased its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 80.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 707 shares of the company’s stock after selling 2,987 shares during the period. Hsbc Holdings PLC’s holdings in BeOne Medicines were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EFG International AG bought a new position in BeOne Medicines in the 4th quarter worth approximately $25,000. Leonteq Securities AG bought a new stake in BeOne Medicines during the 4th quarter valued at $35,000. Daiwa Securities Group Inc. bought a new stake in BeOne Medicines during the 2nd quarter valued at $35,000. CWM LLC lifted its position in shares of BeOne Medicines by 32.8% during the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after acquiring an additional 39 shares in the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of BeOne Medicines during the fourth quarter worth $61,000. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Trading Down 0.7%

Shares of ONC stock opened at $313.77 on Tuesday. The company has a market capitalization of $34.43 billion, a PE ratio of 70.19 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $253.95 and a 52-week high of $385.22. The business’s fifty day moving average is $293.57 and its 200 day moving average is $308.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64.

BeOne Medicines (NASDAQ:ONC) last posted its earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The business had revenue of $1.51 billion during the quarter. On average, equities research analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 5.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Xiaobin Wu sold 1,292 shares of BeOne Medicines stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total transaction of $356,927.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Chan Henry Lee sold 1,044 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $323.69, for a total value of $337,932.36. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 344,404 shares of company stock worth $105,264,141. 6.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONC. Guggenheim lifted their price target on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of BeOne Medicines in a report on Friday, July 17th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Wells Fargo & Company assumed coverage on BeOne Medicines in a report on Monday, May 4th. They set an “overweight” rating and a $400.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on BeOne Medicines from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $394.00.

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.