BeOne Medicines (NASDAQ:ONC) Stock: Insider Chan Henry Lee Sells 1,115 Shares

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) SVP Chan Lee sold 1,115 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $400.82, for a total value of $446,914.30. Following the transaction, the senior vice president directly owned 455 shares of the company’s stock, valued at $182,373.10. The trade was a 71.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chan Henry Lee also recently made the following trade(s):

• On Wednesday, September 30th, Chan Lee sold 1,115 shares of BeOne Medicines stock. The shares were sold at an average price of $375.00, for a total value of $418,125.00.
• On Tuesday, August 11th, Chan Lee sold 2,666 shares of BeOne Medicines stock. The shares were sold at an average price of $360.00, for a total value of $959,760.00.

BeOne Medicines Stock Performance

Shares of ONC opened at $424.00 on Wednesday. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $253.95 and a 1 year high of $424.73. The stock has a market capitalization of $46.55 billion, a PE ratio of 50.71 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 3.55. The stock has a 50-day simple moving average of $365.79 and a 200-day simple moving average of $327.15.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Thursday, November 5th. The company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $1.30. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.76 billion. On average, analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BeOne Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in ONC. First Trust Advisors LP boosted its holdings in BeOne Medicines by 91.9% in the first 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. Jennison Associates LLC raised its holdings in BeOne Medicines by 102.1% during the first quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock worth $45,871,000 after purchasing an additional 78,027 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BeOne Medicines during the 1st quarter worth approximately $19,438,000. SEB Asset Management AB purchased a new stake in shares of BeOne Medicines during the 1st quarter worth approximately $16,653,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of BeOne Medicines by 96.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock worth $32,841,000 after buying an additional 54,260 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ONC. Barclays boosted their price target on shares of BeOne Medicines from $415.00 to $446.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. China Intl Cap began coverage on shares of BeOne Medicines in a report on Friday, November 6th. They issued a “strong-buy” rating on the stock. Wells Fargo & Company lifted their price objective on shares of BeOne Medicines from $400.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Zacks Research cut shares of BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Guggenheim boosted their target price on shares of BeOne Medicines from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, BeOne Medicines presently has an average rating of “Buy” and a consensus target price of $436.92.

About BeOne Medicines

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia. Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.