BeOne Medicines (NASDAQ:ONC) Insider Lai Wang Sells 1,068 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,068 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $276.74, for a total value of $295,558.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 16th, Lai Wang sold 1,169 shares of BeOne Medicines stock. The shares were sold at an average price of $265.39, for a total transaction of $310,240.91.
• On Thursday, June 11th, Lai Wang sold 756 shares of BeOne Medicines stock. The stock was sold at an average price of $261.00, for a total transaction of $197,316.00.
• On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The shares were sold at an average price of $269.38, for a total transaction of $368,242.46.

BeOne Medicines Stock Performance

NASDAQ:ONC traded down $1.78 during midday trading on Thursday, reaching $275.34. The stock had a trading volume of 231,751 shares, compared to its average volume of 260,107. The stock has a market capitalization of $30.21 billion, a P/E ratio of 61.60 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The firm’s fifty day simple moving average is $293.24 and its 200-day simple moving average is $310.76.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The firm 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%. On average, equities research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 EPS for the current fiscal year.

Institutional Trading of BeOne Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers acquired a new position in shares of BeOne Medicines in the second quarter valued at $455,000. Rhumbline Advisers acquired a new stake in BeOne Medicines during the second quarter worth $275,000. Arrowstreet Capital Limited Partnership bought a new stake in BeOne Medicines in the 2nd quarter valued at $505,000. Invesco Ltd. bought a new stake in BeOne Medicines in the 2nd quarter valued at $422,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of BeOne Medicines in the 2nd quarter valued at $68,000. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on ONC shares. Leerink Partners increased their target price on BeOne Medicines from $364.00 to $367.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Barclays upped their price target on BeOne Medicines from $405.00 to $409.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Zacks Research raised BeOne Medicines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Monday, April 20th. Finally, Jefferies Financial Group lowered shares of BeOne Medicines from a “buy” rating to a “hold” rating and dropped their target price for the stock from $420.00 to $290.00 in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.