BeOne Medicines (NASDAQ:ONC) Stock: Insider Xiaodong Wang Sells 31,027 Shares

Key Points

• Insider Xiaodong Wang sold 31,027 BeOne Medicines shares at an average price of $350.99, generating approximately $10.89 million. The Rule 10b5-1 plan transaction reduced Wang’s direct holdings by 50%.
• BeOne shares recently traded at $374.08, near their 52-week high of $385.22, while the company reported quarterly EPS of $2.05 and revenue of $1.71 billion, both ahead of analyst expectations.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $404.93; several firms recently raised their targets to between $405 and $454.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Xiaodong Wang sold 31,027 shares of BeOne Medicines stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $350.99, for a total transaction of $10,890,166.73. Following the sale, the insider directly owned 31,027 shares in the company, valued at $10,890,166.73. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 28th, Xiaodong Wang sold 31,028 shares of BeOne Medicines stock. The shares were sold at an average price of $364.79, for a total value of $11,318,704.12.
• 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 value of $13,365,991.70.

BeOne Medicines Stock Performance

NASDAQ ONC traded up $22.60 during trading hours on Thursday, reaching $374.08. The company's stock had a trading volume of 744,813 shares, compared to its average volume of 308,630. The stock has a market cap of $41.07 billion, a PE ratio of 65.86 and a beta of 0.61. The business has a 50-day simple moving average of $359.11 and a 200 day simple moving average of $320.68. BeOne Medicines Ltd. - Sponsored ADR has a 52 week low of $253.95 and a 52 week high of $385.22. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17.

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 (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Equities research analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citizens Jmp lifted their target price on BeOne Medicines from $396.00 to $405.00 and gave the stock a "market outperform" rating in a report on Thursday, August 6th. TD Cowen upped their target price on BeOne Medicines from $424.00 to $454.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings upgraded BeOne Medicines from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Morgan Stanley reiterated an "overweight" rating on shares of BeOne Medicines in a research report on Thursday, August 6th. Finally, Truist Financial lifted their price target on BeOne Medicines from $418.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $404.93.

Institutional Investors Weigh In On BeOne Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. increased its stake in shares of BeOne Medicines by 192.0% in the 3rd quarter. Mather Group LLC. now owns 73 shares of the company's stock valued at $27,000 after buying an additional 48 shares during the period. GAMMA Investing LLC raised its position in shares of BeOne Medicines by 39.5% during the third quarter. GAMMA Investing LLC now owns 120 shares of the company's stock worth $44,000 after acquiring an additional 34 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of BeOne Medicines by 24.0% during the first quarter. Parallel Advisors LLC now owns 351 shares of the company's stock valued at $104,000 after acquiring an additional 68 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of BeOne Medicines by 16.4% during the first 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 period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of BeOne Medicines during the first quarter valued at $201,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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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