BeOne Medicines (NASDAQ:ONC) COO Xiaobin Wu Sells 1,357 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 1,357 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $266.76, for a total value of $361,993.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Thursday, June 11th, Xiaobin Wu sold 626 shares of BeOne Medicines stock. The stock was sold at an average price of $261.20, for a total transaction of $163,511.20.
• On Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The stock was sold at an average price of $269.37, for a total transaction of $399,745.08.

BeOne Medicines Stock Up 2.8%

Shares of ONC stock traded up $7.47 during midday trading on Thursday, reaching $270.15. 367,884 shares of the stock were exchanged, compared to its average volume of 260,552. 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 $29.64 billion, a PE ratio of 60.44 and a beta of 0.49. The company’s 50 day moving average is $296.83 and its two-hundred day moving average is $312.94. 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 (NASDAQ:ONC) last released its earnings results 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 during the quarter. 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 analysts have commented on ONC shares. Jefferies Financial Group lowered BeOne Medicines from a “buy” rating to a “hold” rating and lowered their price objective for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Wolfe Research began coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target for the company. Guggenheim increased their price target on shares of BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Truist Financial reissued a “buy” rating and set a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of BeOne Medicines from $425.00 to $436.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BeOne Medicines has a consensus rating of “Moderate Buy” and an average price target of $390.00.

Hedge Funds Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE purchased a new position in shares of BeOne Medicines in the 2nd quarter worth about $67,657,000. Man Group plc purchased a new stake in BeOne Medicines during the 2nd quarter valued at about $59,031,000. Capital International Investors grew its position in BeOne Medicines by 3.3% during the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock valued at $1,716,883,000 after purchasing an additional 161,052 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in BeOne Medicines during the 2nd quarter valued at about $38,337,000. Finally, First Trust Advisors LP increased its stake in BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after purchasing an additional 115,601 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.