Insider Selling: BeOne Medicines (NASDAQ:ONC) COO Sells 626 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 626 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $261.20, for a total value of $163,511.20. Following the transaction, the chief operating officer directly owned 1,308,161 shares in the company, valued at approximately $341,691,653.20. This represents a 0.05% decrease in their position. The sale was disclosed in a document filed 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 Monday, June 8th, Xiaobin Wu sold 1,484 shares of BeOne Medicines stock. The stock was sold at an average price of $269.37, for a total value of $399,745.08.

BeOne Medicines Trading Up 1.4%

Shares of BeOne Medicines stock traded up $3.72 during trading hours on Monday, reaching $268.20. 351,440 shares of the company’s stock were exchanged, compared to its average volume of 258,341. BeOne Medicines Ltd. – Sponsored ADR has a 52-week low of $239.25 and a 52-week high of $385.22. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 60.00 and a beta of 0.49. The company has a fifty day moving average of $298.56 and a 200-day moving average of $314.03. 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 issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%.The company had revenue of $1.51 billion for the quarter. Sell-side analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current fiscal year.

Institutional Investors Weigh In On BeOne Medicines

Large investors have recently made changes to their positions in the business. EFG International AG purchased a new position in BeOne Medicines in the fourth quarter valued at about $25,000. Leonteq Securities AG purchased a new position in BeOne Medicines in the fourth quarter valued at about $35,000. Daiwa Securities Group Inc. purchased a new position in BeOne Medicines in the second quarter valued at about $35,000. CWM LLC raised its position in BeOne Medicines by 32.8% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $48,000 after purchasing an additional 39 shares during the period. Finally, Group One Trading LLC purchased a new position in BeOne Medicines in the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ONC. Zacks Research upgraded BeOne Medicines from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Leerink Partners upped 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. Barclays lifted their price objective on BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research note 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 report on Thursday, May 7th. Finally, Wells Fargo & Company started coverage on shares of BeOne Medicines in a report on Monday, May 4th. They issued an “overweight” rating and a $400.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $390.00.

About BeOne Medicines

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.