BeOne Medicines (NASDAQ:ONC) Insider Sells $295,558.32 in Stock

Key Points

• BeOne Medicines insider Lai Wang sold 1,068 shares on June 23 at an average price of $276.74, totaling $295,558.32. The filing says the sale was made to cover tax withholding tied to vested equity awards.
• The insider has also sold shares several times recently, including trades on June 16, June 11, and June 8, suggesting a pattern of insider selling over the past few weeks.
• ONC shares fell 0.6% to $275.34, while Wall Street remains broadly positive with a consensus “Moderate Buy” rating and an average target price of $390.00.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Lai Wang sold 1,068 shares of the firm's stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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 value 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 value of $368,242.46.

BeOne Medicines Stock Down 0.6%

Shares of ONC traded down $1.78 during trading hours on Thursday, reaching $275.34. The company's stock had a trading volume of 231,751 shares, compared to its average volume of 260,107. The firm has a market cap of $30.21 billion, a price-to-earnings 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 quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $293.24 and a two-hundred day moving average of $310.76.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The business 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, research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 6.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ONC shares. Wells Fargo & Company started coverage on shares of BeOne Medicines in a research report on Monday, May 4th. They issued an "overweight" rating and a $400.00 target price for the company. Barclays upped their price target on shares of BeOne Medicines from $405.00 to $409.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Jefferies Financial Group lowered BeOne Medicines from a "buy" rating to a "hold" rating and cut their price objective for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Truist Financial reissued a "buy" rating and set a $413.00 price objective (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Finally, Morgan Stanley restated an "overweight" rating and issued a $395.00 target price on shares of BeOne Medicines in a research note 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 issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, BeOne Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $390.00.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently modified their holdings of ONC. Capital International Investors boosted its holdings in BeOne Medicines by 1.3% in the fourth quarter. Capital International Investors now owns 5,113,866 shares of the company's stock worth $1,553,909,000 after purchasing an additional 67,808 shares in the last quarter. Siren L.L.C. raised its holdings in BeOne Medicines by 1.4% during the fourth quarter. Siren L.L.C. now owns 500,000 shares of the company's stock valued at $151,905,000 after buying an additional 7,010 shares in the last quarter. Morgan Stanley lifted its position in shares of BeOne Medicines by 23.9% in the fourth quarter. Morgan Stanley now owns 437,661 shares of the company's stock worth $132,966,000 after buying an additional 84,367 shares during the last quarter. Bank of America Corp DE lifted its position in shares of BeOne Medicines by 7.0% in the first 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 last quarter. Finally, Candriam S.C.A. boosted its stake in shares of BeOne Medicines by 31.7% during the 1st quarter. Candriam S.C.A. now owns 259,731 shares of the company's stock worth $77,132,000 after acquiring an additional 62,470 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

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.

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