BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) Short Interest Up 24.1% in December

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,615,331 shares, an increase of 24.1% from the December 15th total of 1,302,017 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 233,897 shares, the short-interest ratio is presently 6.9 days. Based on an average daily trading volume, of 233,897 shares, the short-interest ratio is presently 6.9 days. Currently, 1.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Citigroup increased their price target on BeOne Medicines from $399.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Truist Financial set a $400.00 price objective on BeOne Medicines in a research report on Monday, November 24th. Sanford C. Bernstein upgraded BeOne Medicines from a “hold” rating to an “outperform” rating and set a $414.00 target price on the stock in a report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BeOne Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $378.43.

BeOne Medicines Trading Down 0.0%

ONC stock traded down $0.10 during mid-day trading on Monday, reaching $338.19. The company’s stock had a trading volume of 153,660 shares, compared to its average volume of 275,438. BeOne Medicines has a 12 month low of $196.45 and a 12 month high of $385.22. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average price is $330.23 and its 200 day moving average price is $317.27. The company has a market cap of $37.09 billion, a price-to-earnings ratio of 663.12 and a beta of 0.47.

Insider Buying and Selling

In related news, CEO John Oyler sold 24,369 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $302.87, for a total transaction of $7,380,639.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Chan Henry Lee sold 664 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $331.76, for a total value of $220,288.64. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 128,610 shares of company stock worth $41,114,068. 6.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC bought a new stake in BeOne Medicines in the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $28,000. Daiwa Securities Group Inc. bought a new stake in BeOne Medicines in the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC bought a new stake in BeOne Medicines in the 2nd quarter valued at about $39,000. Finally, Signaturefd LLC acquired a new position in BeOne Medicines during the 2nd quarter worth approximately $49,000. 48.55% of the stock is owned by institutional investors.

About BeOne Medicines

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.