BeOne Medicines (NASDAQ:ONC) Insider Sells $11,318,704.12 in Stock

Key Points

• Insider sale: Xiaodong Wang sold 31,028 BeOne Medicines shares for approximately $11.3 million at an average price of $364.79, reducing the insider’s position by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• Stock and financial performance: BeOne shares traded at $365.94, near their 52-week high of $385.22. The company recently exceeded quarterly earnings and revenue expectations, reporting $2.05 in EPS and $1.71 billion in revenue.
• Analyst outlook remains positive: Analysts maintain a consensus “Buy” rating with an average price target of $402.71, while institutional investors collectively own 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,028 shares of the business's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $364.79, for a total value of $11,318,704.12. Following the sale, the insider owned 31,028 shares of the company's stock, valued at $11,318,704.12. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Xiaodong Wang sold 38,287 shares of BeOne Medicines stock. The shares were sold at an average price of $349.10, for a total transaction of $13,365,991.70.

BeOne Medicines Trading Up 0.2%

Shares of BeOne Medicines stock traded up $0.67 during trading hours on Wednesday, hitting $365.94. The company's stock had a trading volume of 328,857 shares, compared to its average volume of 304,945. The company has a quick ratio of 3.06, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $40.18 billion, a PE ratio of 64.43 and a beta of 0.51. The business has a fifty day moving average of $351.75 and a 200 day moving average of $314.84. BeOne Medicines Ltd. - Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. As a group, equities analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post 8.81 EPS for the current year.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors and hedge funds have recently made changes to their positions in the company. 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 during the period. 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 valued at $120,354,000 after buying an additional 26,441 shares during the last quarter. Baird Financial Group Inc. raised its stake in BeOne Medicines by 5.5% during the second quarter. Baird Financial Group Inc. now owns 368,978 shares of the company's stock worth $105,148,000 after acquiring an additional 19,327 shares during the period. Candriam S.C.A. lifted its holdings in BeOne Medicines by 31.7% in the first 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 during the last quarter. Finally, First Trust Advisors LP boosted its stake in BeOne Medicines by 91.9% in the first quarter. First Trust Advisors LP now owns 241,426 shares of the company's stock valued at $71,696,000 after acquiring an additional 115,601 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ONC. Morgan Stanley reissued an "overweight" rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Truist Financial boosted their price objective on shares of BeOne Medicines from $416.00 to $418.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded BeOne Medicines from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Citizens Jmp raised their price objective on BeOne Medicines from $396.00 to $405.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Finally, Wolfe Research reiterated an "outperform" rating and set a $370.00 target price on shares of BeOne Medicines in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $402.71.

About BeOne Medicines

BeOne Medicines Ltd. NASDAQ: ONC is a global oncology company focused on discovering, developing, manufacturing and commercializing medicines for people with cancer. The company operates across the research and development, clinical testing, regulatory and commercial stages of the biopharmaceutical industry, with an emphasis on treatments for blood cancers and solid tumors.

Its marketed portfolio includes BRUKINSA (zanubrutinib), a Bruton's tyrosine kinase inhibitor used to treat several B-cell malignancies, and TEVIMBRA (tislelizumab), an immunotherapy targeting the PD-1 pathway for certain cancers.

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