BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Sees Significant Decline in Short Interest

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 1,356,462 shares, a drop of 16.0% from the December 31st total of 1,615,331 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 372,552 shares, the short-interest ratio is presently 3.6 days. Based on an average daily trading volume, of 372,552 shares, the short-interest ratio is presently 3.6 days. Currently, 1.3% of the shares of the stock are short sold.

Insider Activity at BeOne Medicines

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 75,631 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 128,610 shares of company stock worth $41,114,068 over the last ninety days. 6.62% of the stock is owned by corporate insiders.

Institutional Trading of BeOne Medicines

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in shares of BeOne Medicines during the second quarter valued at approximately $39,000. Signaturefd LLC purchased a new stake in shares of BeOne Medicines in the second quarter worth approximately $49,000. Janney Montgomery Scott LLC bought a new stake in shares of BeOne Medicines during the 2nd quarter worth approximately $373,000. PFG Investments LLC purchased a new position in BeOne Medicines during the 2nd quarter valued at $238,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in BeOne Medicines during the 2nd quarter valued at $926,000. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Trading Down 2.7%

ONC stock opened at $340.38 on Monday. BeOne Medicines has a twelve month low of $196.45 and a twelve month high of $385.22. The stock has a market capitalization of $37.33 billion, a price-to-earnings ratio of 667.41 and a beta of 0.52. The company has a quick ratio of 2.17, a current ratio of 2.39 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $326.85 and its two-hundred day simple moving average is $323.40.

Analyst Ratings Changes

Several equities analysts have weighed in on ONC shares. Citigroup raised their price target on BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a report on Monday, November 10th. Truist Financial set a $400.00 target price on shares of BeOne Medicines in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating and set a $405.00 price objective on shares of BeOne Medicines in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of BeOne Medicines in a report on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average 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.