BeOne Medicines (NASDAQ:ONC) Shares Gap Down – Should You Sell?
by Danessa Lincoln · The Markets DailyShares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $341.64, but opened at $331.18. BeOne Medicines shares last traded at $338.87, with a volume of 67,015 shares changing hands.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Zacks Research downgraded shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada restated an “outperform” rating on shares of BeOne Medicines in a research report on Wednesday, December 17th. Jefferies Financial Group reissued a “buy” rating and set a $420.00 price target on shares of BeOne Medicines in a research report on Monday, November 17th. Citigroup lifted their target price on shares of BeOne Medicines from $399.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.43.
Read Our Latest Stock Report on BeOne Medicines
BeOne Medicines Stock Down 1.2%
The stock has a market capitalization of $37.03 billion, a price-to-earnings ratio of 662.16 and a beta of 0.47. The firm’s fifty day moving average is $329.51 and its 200-day moving average is $318.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.
Insider Buying and Selling
In related news, CEO John Oyler sold 24,369 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $302.87, for a total transaction of $7,380,639.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total value of $895,544.30. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 128,610 shares of company stock valued at $41,114,068 over the last quarter. Company insiders own 6.62% of the company’s stock.
Institutional Trading of BeOne Medicines
A number of hedge funds and other institutional investors have recently made changes to their positions in ONC. Anchor Investment Management LLC acquired a new stake in BeOne Medicines in the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in BeOne Medicines during the second quarter valued at about $28,000. Daiwa Securities Group Inc. acquired a new position in BeOne Medicines during the second quarter worth about $35,000. Farther Finance Advisors LLC bought a new stake in BeOne Medicines in the second quarter worth about $39,000. Finally, Signaturefd LLC acquired a new stake in BeOne Medicines in the 2nd quarter valued at about $49,000. 48.55% of the stock is currently owned by 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.