Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells 1,367 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,367 shares of BeOne Medicines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46. Following the completion of the transaction, the insider directly owned 40 shares of the company’s stock, valued at $10,775.20. This trade represents a 97.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.

BeOne Medicines Stock Performance

Shares of NASDAQ ONC traded down $4.56 during midday trading on Wednesday, hitting $263.61. The company’s stock had a trading volume of 291,079 shares, compared to its average volume of 255,249. 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 cap of $28.92 billion, a P/E ratio of 58.97 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The firm’s fifty day moving average price is $301.03 and its 200-day moving average price is $315.60.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on ONC. Morgan Stanley restated an “overweight” rating and set a $395.00 price objective on shares of BeOne Medicines in a research report on Thursday, May 7th. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Guggenheim boosted their price objective on BeOne Medicines from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company began coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price objective for the company. Finally, Jefferies Financial Group lowered BeOne Medicines from a “buy” rating to a “hold” rating and reduced their price objective for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BeOne Medicines has a consensus rating of “Moderate Buy” and an average price target of $390.00.

Institutional Trading of BeOne Medicines

Several hedge funds have recently added to or reduced their stakes in ONC. Cetera Investment Advisers bought a new stake in BeOne Medicines during the 2nd quarter valued at $455,000. Rhumbline Advisers bought a new stake in BeOne Medicines during the 2nd quarter valued at $275,000. Arrowstreet Capital Limited Partnership bought a new stake in BeOne Medicines during the 2nd quarter valued at $505,000. Invesco Ltd. bought a new stake in BeOne Medicines during the 2nd quarter valued at $422,000. Finally, EverSource Wealth Advisors LLC bought a new stake in BeOne Medicines during the 2nd quarter valued at $68,000. Institutional investors own 48.55% of the company’s stock.

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.