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

Mirae Asset Global Investments Co. Ltd. boosted its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 1,019.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,816 shares of the company’s stock after buying an additional 38,992 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BeOne Medicines were worth $14,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ONC. Ballentine Partners LLC purchased a new position in shares of BeOne Medicines in the third quarter valued at $256,000. Truist Financial Corp bought a new position in BeOne Medicines in the 3rd quarter worth about $218,000. Vanguard Personalized Indexing Management LLC grew its holdings in BeOne Medicines by 25.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,784 shares of the company’s stock valued at $949,000 after buying an additional 565 shares in the last quarter. PFG Investments LLC increased its position in shares of BeOne Medicines by 27.9% during the third quarter. PFG Investments LLC now owns 1,260 shares of the company’s stock valued at $429,000 after buying an additional 275 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of BeOne Medicines by 24.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,995 shares of the company’s stock worth $680,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeOne Medicines Price Performance

Shares of NASDAQ:ONC opened at $340.38 on Friday. 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 stock has a market cap of $37.33 billion, a PE ratio of 667.41 and a beta of 0.47. The company’s fifty day moving average is $326.85 and its 200 day moving average is $322.72. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $196.45 and a 52 week high of $385.22.

Wall Street Analyst Weigh In

Several analysts have issued reports on ONC shares. Citigroup increased 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. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Citizens Jmp boosted their target price on BeOne Medicines from $348.00 to $396.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Truist Financial set a $400.00 price target on BeOne Medicines in a report on Monday, November 24th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $420.00 price objective on shares of BeOne Medicines in a report on Monday, November 17th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.43.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 664 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $331.76, for a total transaction of $220,288.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 3,991 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $380.43, for a total value of $1,518,296.13. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 128,610 shares of company stock valued at $41,114,068. 6.62% of the stock is owned by 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.