Insider Selling: BeOne Medicines (NASDAQ:ONC) COO Sells $356,927.92 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 1,292 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $276.26, for a total value of $356,927.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, June 16th, Xiaobin Wu sold 1,357 shares of BeOne Medicines stock. The shares were sold at an average price of $266.76, for a total value of $361,993.32.
• On Thursday, June 11th, Xiaobin Wu sold 626 shares of BeOne Medicines stock. The shares were sold at an average price of $261.20, for a total value of $163,511.20.
• On Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The shares were sold at an average price of $269.37, for a total value of $399,745.08.

BeOne Medicines Trading Up 1.7%

BeOne Medicines stock opened at $279.89 on Friday. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $239.25 and a 12-month high of $385.22. The firm has a market capitalization of $30.71 billion, a price-to-earnings ratio of 62.62 and a beta of 0.49. The firm has a 50 day moving average of $291.75 and a 200 day moving average of $310.21. 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 posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. As a group, research analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current year.

Institutional Trading of BeOne Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors boosted its holdings in shares of BeOne Medicines by 1.3% during the 4th quarter. Capital International Investors now owns 5,113,866 shares of the company’s stock valued at $1,553,909,000 after purchasing an additional 67,808 shares during the last quarter. Siren L.L.C. lifted its position in shares of BeOne Medicines by 1.4% in the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company’s stock worth $151,905,000 after buying an additional 7,010 shares in the last quarter. Morgan Stanley boosted its stake in BeOne Medicines by 23.9% during the fourth quarter. Morgan Stanley now owns 437,661 shares of the company’s stock valued at $132,966,000 after buying an additional 84,367 shares during the last quarter. Bank of America Corp DE boosted its stake in BeOne Medicines by 7.0% during the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after buying an additional 26,441 shares during the last quarter. Finally, Candriam S.C.A. grew its holdings in BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock valued at $77,132,000 after buying an additional 62,470 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ONC. Leerink Partners increased their price target on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Wolfe Research assumed coverage on BeOne Medicines in a research note on Friday, March 27th. They issued an “outperform” rating and a $340.00 price objective for the company. Barclays increased their target price on BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Truist Financial reissued a “buy” rating and set a $413.00 target price (up from $411.00) on shares of BeOne Medicines in a research note on Thursday, May 7th. Finally, Guggenheim boosted their price target on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $390.00.

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.