BeOne Medicines (NASDAQ:ONC) CEO John Oyler Sells 3,410 Shares

Key Points

• CEO John Oyler sold 3,410 shares of BeOne Medicines on Tuesday at an average price of $273.78, totaling about $933,590. The filing says the sale was made to cover tax withholding tied to vested equity awards.
• Oyler has made several recent sales of BeOne Medicines stock, including transactions on June 16, June 11, and June 8, indicating a steady reduction in his holdings over the past few weeks.
• BeOne Medicines shares traded down to $275.34 in the latest session, while analysts remain generally positive with an average Moderate Buy rating and a mean price target of $390.00.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) CEO John Oyler sold 3,410 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $273.78, for a total transaction of $933,589.80. Following the transaction, the chief executive officer owned 1,610 shares in the company, valued at approximately $440,785.80. This trade represents a 67.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Oyler also recently made the following trade(s):

• On Tuesday, June 16th, John Oyler sold 3,693 shares of BeOne Medicines stock. The shares were sold at an average price of $265.55, for a total transaction of $980,676.15.
• On Thursday, June 11th, John Oyler sold 1,949 shares of BeOne Medicines stock. The stock was sold at an average price of $257.24, for a total transaction of $501,360.76.
• On Monday, June 8th, John Oyler sold 4,940 shares of BeOne Medicines stock. The stock was sold at an average price of $270.56, for a total transaction of $1,336,566.40.

BeOne Medicines Price Performance

Shares of ONC traded down $1.78 during mid-day trading on Thursday, hitting $275.34. 231,751 shares of the company traded hands, compared to its average volume of 260,107. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 61.60 and a beta of 0.49. The business has a 50-day moving average of $293.24 and a 200 day moving average of $310.76. BeOne Medicines Ltd. - Sponsored ADR has a one year low of $239.25 and a one year high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts expect that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ONC shares. Royal Bank Of Canada raised their price target on BeOne Medicines from $425.00 to $436.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Wall Street Zen cut BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 20th. Jefferies Financial Group downgraded shares of BeOne Medicines from a "buy" rating to a "hold" rating and cut their target price for the company from $420.00 to $290.00 in a research report on Monday, March 16th. Wells Fargo & Company assumed coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They issued an "overweight" rating and a $400.00 target price on the stock. Finally, Guggenheim increased their price objective on shares of BeOne Medicines from $410.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Two equities research 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $390.00.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new position in BeOne Medicines in the first quarter valued at about $201,000. Bank of America Corp DE grew its position in shares of BeOne Medicines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock worth $120,354,000 after buying an additional 26,441 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of BeOne Medicines in the 1st quarter valued at about $3,475,000. EverSource Wealth Advisors LLC increased its stake in shares of BeOne Medicines by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 369 shares of the company's stock valued at $110,000 after acquiring an additional 52 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of BeOne Medicines by 3.5% in the 1st quarter. Royal Bank of Canada now owns 70,391 shares of the company's stock valued at $20,905,000 after acquiring an additional 2,399 shares during the period. Institutional investors own 48.55% of the company's stock.

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.

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