Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells $310,240.91 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,169 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $265.39, for a total value of $310,240.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lai Wang also recently made the following trade(s):

• On Thursday, June 11th, Lai Wang sold 756 shares of BeOne Medicines stock. The shares were sold at an average price of $261.00, for a total value of $197,316.00.
• On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46.

BeOne Medicines Stock Up 2.8%

BeOne Medicines stock traded up $7.47 during trading hours on Thursday, reaching $270.15. The stock had a trading volume of 367,884 shares, compared to its average volume of 260,552. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 60.44 and a beta of 0.49. The business’s 50 day moving average price is $296.83 and its 200-day moving average price is $312.94. BeOne Medicines Ltd. – Sponsored ADR has a 52 week low of $239.25 and a 52 week high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share 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 for the quarter. Sell-side analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current year.

Hedge Funds Weigh In On BeOne Medicines

Large investors have recently made changes to their positions in the company. EFG International AG purchased a new stake in BeOne Medicines during the fourth quarter worth $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the fourth quarter valued at $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the second quarter valued at $35,000. CWM LLC raised its position in shares of BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after acquiring an additional 39 shares during the period. Finally, Group One Trading LLC acquired a new position in shares of BeOne Medicines in the fourth quarter worth about $61,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ONC shares. Truist Financial restated a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Wells Fargo & Company started coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target on the stock. Wolfe Research started coverage on BeOne Medicines in a research note on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective for the company. Royal Bank Of Canada boosted their price objective on BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $390.00.

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.