BeOne Medicines (NASDAQ:ONC) Insider Xiaodong Wang Sells 31,028 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 31,028 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $362.97, for a total transaction of $11,262,233.16. Following the completion of the transaction, the insider directly owned 31,028 shares of the company’s stock, valued at approximately $11,262,233.16. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 13th, Xiaodong Wang sold 31,027 shares of BeOne Medicines stock. The shares were sold at an average price of $350.99, for a total transaction of $10,890,166.73.
• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The stock was sold at an average price of $364.79, for a total value of $11,318,704.12.
• On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The stock was sold at an average price of $349.10, for a total value of $13,365,991.70.

BeOne Medicines Price Performance

Shares of ONC traded down $1.80 on Thursday, reaching $371.56. The stock had a trading volume of 268,139 shares, compared to its average volume of 312,146. BeOne Medicines Ltd. – Sponsored ADR has a twelve month low of $253.95 and a twelve month high of $388.66. The firm has a market capitalization of $40.79 billion, a PE ratio of 65.42 and a beta of 0.61. The firm has a 50-day moving average of $363.23 and a 200 day moving average of $325.09. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.65. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. Sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 EPS for the current year.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its position in BeOne Medicines by 91.9% during the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares during the period. Jennison Associates LLC grew its holdings in BeOne Medicines by 102.1% in the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares during the period. Renaissance Technologies LLC purchased a new position in shares of BeOne Medicines in the 1st quarter worth $19,438,000. Candriam S.C.A. boosted its holdings in BeOne Medicines by 31.7% in the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after acquiring an additional 62,470 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in BeOne Medicines in the first quarter valued at $16,653,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lifted their price target on BeOne Medicines from $407.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. Wolfe Research restated an “outperform” rating and set a $370.00 target price on shares of BeOne Medicines in a report on Monday, August 10th. JPMorgan Chase & Co. raised their target price on shares of BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Truist Financial lifted their target price on shares of BeOne Medicines from $418.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $425.00 price target on shares of BeOne Medicines in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, BeOne Medicines currently has an average rating of “Moderate Buy” and an average target price of $412.26.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for cancer patients. Formerly known as BeiGene, the company operates an integrated biotechnology platform spanning research, clinical development, regulatory activities and commercial operations.

Its portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used in the treatment of several blood cancers, and TEVIMBRA (tislelizumab), an anti-PD-1 immunotherapy approved in multiple markets for certain cancers.