Lai Wang Sells 756 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 756 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $261.00, for a total transaction of $197,316.00. Following the completion of the sale, the insider owned 1,710,085 shares of the company’s stock, valued at approximately $446,332,185. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The stock was sold at an average price of $269.38, for a total transaction of $368,242.46.

BeOne Medicines Price Performance

Shares of NASDAQ ONC opened at $263.92 on Wednesday. The firm has a market cap of $28.96 billion, a PE ratio of 59.04 and a beta of 0.49. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The company has a fifty day moving average price of $297.63 and a 200 day moving average price of $313.49.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The firm had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. Research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ONC. Truist Financial reaffirmed a “buy” rating and issued a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $395.00 target price on shares of BeOne Medicines in a research note on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of BeOne Medicines from $425.00 to $436.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $390.00.

Hedge Funds Weigh In On BeOne Medicines

A number of large investors have recently modified their holdings of ONC. Bank of America Corp DE acquired a new position in shares of BeOne Medicines during the 2nd quarter worth about $67,657,000. Man Group plc bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $59,031,000. Capital International Investors raised its holdings in BeOne Medicines by 3.3% in the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock valued at $1,716,883,000 after acquiring an additional 161,052 shares during the period. BNP Paribas Financial Markets acquired a new stake in BeOne Medicines during the 2nd quarter worth approximately $38,337,000. Finally, First Trust Advisors LP lifted its holdings in BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after purchasing an additional 115,601 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.