Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells $197,316.00 in Stock

by · The Cerbat Gem

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Get Free Report) insider Lai Wang sold 756 shares of the stock in a transaction that occurred 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 directly owned 1,710,085 shares in the company, valued at approximately $446,332,185. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Stock Up 1.4%

Shares of ONC stock traded up $3.72 on Monday, reaching $268.20. 351,440 shares of the stock were exchanged, compared to its average volume of 258,341. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 60.00 and a beta of 0.49. The business’s 50 day moving average price is $298.56 and its 200 day moving average price is $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 twelve month low of $239.25 and a twelve month high of $385.22.

BeOne Medicines (NASDAQ:ONC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. As a group, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Institutional Trading of BeOne Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock worth $120,354,000 after purchasing an additional 26,441 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of BeOne Medicines during the first quarter worth about $3,475,000. EverSource Wealth Advisors LLC increased its position in shares of BeOne Medicines by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company’s stock worth $110,000 after purchasing an additional 52 shares in the last quarter. Royal Bank of Canada increased its position in shares of BeOne Medicines by 3.5% during the first quarter. Royal Bank of Canada now owns 70,391 shares of the company’s stock worth $20,905,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in shares of BeOne Medicines during the first quarter worth about $4,256,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

ONC has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and set a $395.00 price objective on shares of BeOne Medicines in a report on Thursday, May 7th. Wolfe Research started coverage on shares of BeOne Medicines in a report on Friday, March 27th. They set an “outperform” rating and a $340.00 price objective on the stock. Barclays raised their price objective on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group cut shares of BeOne Medicines from a “buy” rating to a “hold” rating and cut their price objective for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $390.00.

Read Our Latest Research Report on ONC

About BeOne Medicines

(Get Free Report)

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.

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