BeOne Medicines (NASDAQ:ONC) Insider Lai Wang Sells 1,169 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 1,169 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $265.39, for a total transaction of $310,240.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 stock was sold at an average price of $269.38, for a total value of $368,242.46.

BeOne Medicines Stock Performance

ONC stock opened at $270.15 on Friday. The firm has a market cap of $29.64 billion, a PE ratio of 60.44 and a beta of 0.49. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $296.16 and a 200-day moving average of $312.45. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $239.25 and a 12-month high of $385.22.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 EPS for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. As a group, sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current year.

Hedge Funds Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently bought and sold shares of ONC. Bank of America Corp DE purchased a new stake in BeOne Medicines in the second quarter worth $67,657,000. Man Group plc bought a new position in shares of BeOne Medicines during the 2nd quarter worth $59,031,000. Capital International Investors grew its stake in shares of BeOne Medicines by 3.3% during the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after acquiring an additional 161,052 shares during the period. BNP Paribas Financial Markets purchased a new stake in BeOne Medicines in the 2nd quarter worth about $38,337,000. Finally, First Trust Advisors LP increased its holdings 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 acquiring an additional 115,601 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ONC. Wolfe Research started coverage on BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 target price for the company. Jefferies Financial Group downgraded shares of BeOne Medicines from a “buy” rating to a “hold” rating and cut their price target for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Barclays increased their price target on shares of BeOne Medicines from $405.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Leerink Partners raised their price objective on shares of BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $413.00 price objective (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.