Insider Selling: BeOne Medicines (NASDAQ:ONC) CEO Sells $25,661,243.30 in Stock

Key Points

• CEO John Oyler sold 70,907 BeOne Medicines shares for approximately $25.7 million at an average price of $361.90 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 56.37% to 54,892 shares.
• BeOne Medicines shares slipped 0.1% to $359.05, while the company reported quarterly EPS of $2.05 and revenue of $1.71 billion, exceeding analyst expectations.
• Analysts maintain a broadly positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $402.14; institutional investors own 48.55% of the company.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) CEO John Oyler sold 70,907 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.90, for a total transaction of $25,661,243.30. Following the completion of the sale, the chief executive officer owned 54,892 shares in the company, valued at $19,865,414.80. This represents a 56.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, John Oyler sold 54,892 shares of BeOne Medicines stock. The shares were sold at an average price of $358.15, for a total transaction of $19,659,569.80.
• On Monday, August 10th, John Oyler sold 115,011 shares of BeOne Medicines stock. The stock was sold at an average price of $357.87, for a total value of $41,158,986.57.
• On Monday, July 20th, John Oyler sold 48,316 shares of BeOne Medicines stock. The stock was sold at an average price of $312.25, for a total value of $15,086,671.00.
• On Tuesday, July 21st, John Oyler sold 61,397 shares of BeOne Medicines stock. The shares were sold at an average price of $317.67, for a total value of $19,503,984.99.
• On Friday, July 10th, John Oyler sold 11,698 shares of BeOne Medicines stock. The shares were sold at an average price of $298.34, for a total value of $3,489,981.32.
• On Monday, July 13th, John Oyler sold 48,520 shares of BeOne Medicines stock. The shares were sold at an average price of $304.35, for a total value of $14,767,062.00.
• On Tuesday, July 14th, John Oyler sold 145,861 shares of BeOne Medicines stock. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95.
• On Tuesday, June 23rd, John Oyler sold 3,410 shares of BeOne Medicines stock. The shares were sold at an average price of $273.78, for a total value of $933,589.80.
• 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 value 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.

BeOne Medicines Stock Down 0.1%

Shares of NASDAQ ONC traded down $0.22 during trading on Wednesday, hitting $359.05. The stock had a trading volume of 314,911 shares, compared to its average volume of 289,218. The firm has a fifty day moving average of $299.80 and a two-hundred day moving average of $308.98. The company has a market capitalization of $39.39 billion, a PE ratio of 63.21 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06. BeOne Medicines Ltd. - Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $385.22.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating 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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, equities research analysts forecast that BeOne Medicines Ltd. - Sponsored ADR will post 7.3 EPS for the current fiscal year.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors have recently bought and sold shares of the company. Capital International Investors increased its position 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 buying an additional 67,808 shares during the last quarter. Siren L.L.C. grew its stake in shares of BeOne Medicines by 1.4% during the 4th quarter. Siren L.L.C. now owns 500,000 shares of the company's stock worth $151,905,000 after acquiring an additional 7,010 shares during the period. Morgan Stanley grew its stake in shares of BeOne Medicines by 23.9% during the 4th quarter. Morgan Stanley now owns 437,661 shares of the company's stock worth $132,966,000 after acquiring an additional 84,367 shares during the period. Bank of America Corp DE increased its holdings in BeOne Medicines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 405,273 shares of the company's stock worth $120,354,000 after acquiring an additional 26,441 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in BeOne Medicines by 31.7% in 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 during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ONC. Royal Bank Of Canada cut their target price on BeOne Medicines from $451.00 to $450.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company began coverage on BeOne Medicines in a report on Monday, May 4th. They set an "overweight" rating and a $400.00 price target on the stock. Citizens Jmp boosted their price objective on BeOne Medicines from $396.00 to $405.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 6th. Truist Financial upped their price objective on BeOne Medicines from $416.00 to $418.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of BeOne Medicines in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $402.14.

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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