Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells 31,027 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Xiaodong Wang sold 31,027 shares of BeOne Medicines stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $350.99, for a total transaction of $10,890,166.73. Following the transaction, the insider directly owned 31,027 shares in the company, valued at approximately $10,890,166.73. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Xiaodong Wang also recently made the following trade(s):

• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The stock was sold at an average price of $364.79, for a total value of $11,318,704.12.
• On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The stock was sold at an average price of $349.10, for a total transaction of $13,365,991.70.

BeOne Medicines Stock Up 6.4%

Shares of NASDAQ:ONC traded up $22.60 during midday trading on Thursday, reaching $374.08. 744,813 shares of the company were exchanged, compared to its average volume of 308,630. BeOne Medicines Ltd. – Sponsored ADR has a fifty-two week low of $253.95 and a fifty-two week high of $385.22. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $359.11 and a two-hundred day simple moving average of $320.68. The firm has a market cap of $41.07 billion, a PE ratio of 65.86 and a beta of 0.61.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a return on equity of 14.23% and a net margin of 10.70%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. As a group, sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of BeOne Medicines by 7.0% in the first quarter. Bank of America Corp DE now owns 405,273 shares of the company’s stock valued at $120,354,000 after acquiring an additional 26,441 shares during the period. Baird Financial Group Inc. grew its stake in shares of BeOne Medicines by 5.5% in the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company’s stock valued at $105,148,000 after acquiring an additional 19,327 shares in the last quarter. Candriam S.C.A. increased its position in BeOne Medicines by 31.7% during the first quarter. Candriam S.C.A. now owns 259,731 shares of the company’s stock worth $77,132,000 after acquiring an additional 62,470 shares during the period. First Trust Advisors LP increased its position in BeOne Medicines by 91.9% during the first quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after acquiring an additional 115,601 shares during the period. Finally, Jennison Associates LLC increased its position 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 acquiring an additional 78,027 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONC has been the subject of a number of recent analyst reports. Zacks Research cut BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Nomura upgraded BeOne Medicines to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen raised BeOne Medicines from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Morgan Stanley reissued an “overweight” rating on shares of BeOne Medicines in a report on Thursday, August 6th. Finally, Guggenheim increased their price target on BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, BeOne Medicines has an average rating of “Buy” and an average price target of $404.93.

BeOne Medicines Company Profile

BeOne Medicines Ltd. (NASDAQ: ONC) is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton’s tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.