Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells $368,242.46 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,367 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46. Following the sale, the insider directly owned 40 shares in the company, valued at $10,775.20. This trade represents a 97.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BeOne Medicines Price Performance

Shares of ONC opened at $264.48 on Friday. The firm has a market capitalization of $29.02 billion, a PE ratio of 59.17 and a beta of 0.49. 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 Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The company’s fifty day moving average price is $299.42 and its 200-day moving average price is $314.63.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Monday, April 20th. Truist Financial reaffirmed a “buy” rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a report on Thursday, May 7th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Zacks Research raised shares of BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Finally, Leerink Partners upped their price target on shares of BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a report on Friday, May 15th. 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 given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $390.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in BeOne Medicines by 1.3% in the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after buying an additional 67,808 shares in the last quarter. Siren L.L.C. lifted its stake in BeOne Medicines by 1.4% in the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock valued at $151,905,000 after buying an additional 7,010 shares in the last quarter. Morgan Stanley lifted its stake in BeOne Medicines by 23.9% in the 4th quarter. Morgan Stanley now owns 437,661 shares of the company’s stock valued at $132,966,000 after buying an additional 84,367 shares in the last quarter. Bank of America Corp DE lifted its stake in BeOne Medicines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after buying an additional 26,441 shares in the last quarter. Finally, Candriam S.C.A. lifted its stake in BeOne Medicines by 31.7% in the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other 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.