Xiaobin Wu Sells 626 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 626 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $261.20, for a total value of $163,511.20. Following the completion of the transaction, the chief operating officer directly owned 1,308,161 shares in the company, valued at $341,691,653.20. This trade represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xiaobin Wu also recently made the following trade(s):

• On Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The shares were sold at an average price of $269.37, for a total value of $399,745.08.

BeOne Medicines Stock Up 1.4%

NASDAQ:ONC traded up $3.72 during mid-day trading on Monday, hitting $268.20. The company had a trading volume of 351,440 shares, compared to its average volume of 258,341. The business has a fifty day simple moving average of $298.56 and a 200-day simple moving average of $314.03. 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 firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 60.00 and a beta of 0.49.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ONC shares. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Wells Fargo & Company started coverage on BeOne Medicines in a research note on Monday, May 4th. They set an “overweight” rating and a $400.00 target price for the company. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group downgraded BeOne Medicines from a “buy” rating to a “hold” rating and lowered their target price for the company from $420.00 to $290.00 in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $390.00.

Hedge Funds Weigh In On BeOne Medicines

A number of hedge funds have recently bought and sold shares of ONC. Cetera Investment Advisers acquired a new position in BeOne Medicines in the second quarter worth about $455,000. Rhumbline Advisers acquired a new position in BeOne Medicines in the second quarter worth about $275,000. Arrowstreet Capital Limited Partnership acquired a new position in BeOne Medicines in the second quarter worth about $505,000. Invesco Ltd. acquired a new position in BeOne Medicines in the second quarter worth about $422,000. Finally, EverSource Wealth Advisors LLC acquired a new position in BeOne Medicines in the second quarter worth about $68,000. 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.