On September 30, BEONE MEDICINES rose 3.03% in regular trading, trading at 224.0 HKD/share, with turnover of HKD 154 million. The rally was driven by continued aggressive buying from The Capital Group Companies, one of the world's largest asset management firms.
According to filings with the Hong Kong Stock Exchange, Capital Group purchased 1.9494 million shares of BEONE MEDICINES on September 24 at an average price of USD 358.77 per share, investing approximately USD 699 million. This followed an earlier purchase on September 9 of 3.0704 million shares at an average price of USD 348.48, totaling roughly USD 1.07 billion. Combined, the two transactions exceed USD 1.7 billion, lifting Capital Group's stake from 6.97% to 8.08%.
The institutional accumulation comes on the heels of strong half-year results, with revenue rising 32.3% year-over-year to USD 3.219 billion and adjusted net profit surging 111% to USD 820 million. The flagship product Brukinsa generated USD 2.342 billion in global sales, accounting for 74% of product revenue. Multiple brokerages maintain a Buy rating, with CLSA naming BEONE MEDICINES as a top pick in China biotech.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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