Insider Selling: BeOne Medicines (NASDAQ:ONC) SVP Sells $446,914.30 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) SVP Chan Lee sold 1,115 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $400.82, for a total value of $446,914.30. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 Trading Up 2.5%

Shares of NASDAQ ONC traded up $10.37 during trading hours on Monday, hitting $417.33. 567,588 shares of the company traded hands, compared to its average volume of 321,538. The company’s 50 day moving average price is $363.49 and its 200 day moving average price is $326.34. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $420.00. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 53.03 and a beta of 0.63. The company has a current ratio of 3.55, a quick ratio of 3.19 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONC. Truist Financial reissued a “buy” rating and issued a $448.00 target price (up from $420.00) on shares of BeOne Medicines in a research note on Friday. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. upped their price target on shares of BeOne Medicines from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Citizens Jmp upped their price target on shares of BeOne Medicines from $405.00 to $463.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Weiss Ratings raised shares of BeOne Medicines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $434.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP increased its stake in BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares during the period. Jennison Associates LLC lifted its holdings in BeOne Medicines by 102.1% during the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares in the last quarter. Renaissance Technologies LLC bought a new stake in BeOne Medicines during the 1st quarter valued at about $19,438,000. SEB Asset Management AB purchased a new stake in BeOne Medicines in the 1st quarter valued at about $16,653,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in BeOne Medicines by 96.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock valued at $32,841,000 after buying an additional 54,260 shares during the period. 48.55% of the stock is currently owned by institutional investors.

BeOne Medicines Company Profile

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.