BeOne Medicines (NASDAQ:ONC) Stock Price Down 4.5% – Should You Sell?

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC)’s share price traded down 4.5% during mid-day trading on Monday . The company traded as low as $322.41 and last traded at $332.16. 347,042 shares traded hands during trading, a decline of 11% from the average session volume of 388,412 shares. The stock had previously closed at $347.72.

Analyst Upgrades and Downgrades

ONC has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. lifted their price objective on shares of BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Guggenheim lifted their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Wednesday, October 8th. Finally, Truist Financial set a $400.00 price target on BeOne Medicines in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.79.

BeOne Medicines Stock Up 1.6%

The company has a market cap of $40.38 billion, a price-to-earnings ratio of 667.92 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17. The firm has a 50-day moving average price of $332.64 and a 200 day moving average price of $297.57.

Insider Activity

In other news, SVP Chan Henry Lee sold 10,671 shares of BeOne Medicines stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $350.40, for a total transaction of $3,739,118.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,665 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $337.00, for a total transaction of $898,105.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 81,254 shares of company stock worth $27,971,587. Corporate insiders own 6.62% of the company’s stock.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors have recently made changes to their positions in ONC. Coldstream Capital Management Inc. acquired a new stake in BeOne Medicines during the third quarter worth approximately $201,000. NewEdge Advisors LLC lifted its position in shares of BeOne Medicines by 19.6% during the 3rd quarter. NewEdge Advisors LLC now owns 1,856 shares of the company’s stock valued at $632,000 after acquiring an additional 304 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of BeOne Medicines during the 3rd quarter worth $16,270,000. Nomura Holdings Inc. bought a new position in shares of BeOne Medicines in the third quarter worth $12,606,000. Finally, Mariner LLC acquired a new position in BeOne Medicines in the third quarter valued at about $290,000. 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.