Insider Selling: BeOne Medicines (NASDAQ:ONC) Insider Sells 5,000 Shares of Stock

Key Points

• BeOne Medicines insider Lai Wang sold 5,000 shares of stock at an average price of $350.06, totaling approximately $1.75 million in the transaction.
• Following the recent trades, BeOne Medicines' stock is currently trading at $335.67, reflecting a 6.9% increase in midday trading.
• Several institutional investors, including Osaic Holdings and China Universal Asset Management, have acquired new positions in BeOne Medicines, contributing to institutional ownership of 48.55% of the company's stock.

BeOne Medicines Ltd. - Sponsored ADR (NASDAQ:ONC - Get Free Report) insider Lai Wang sold 5,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $350.06, for a total transaction of $1,750,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, July 30th, Lai Wang sold 259 shares of BeOne Medicines stock. The stock was sold at an average price of $305.00, for a total transaction of $78,995.00.
• On Tuesday, July 29th, Lai Wang sold 4,041 shares of BeOne Medicines stock. The stock was sold at an average price of $302.49, for a total transaction of $1,222,362.09.
• On Friday, July 18th, Lai Wang sold 700 shares of BeOne Medicines stock. The stock was sold at an average price of $300.00, for a total transaction of $210,000.00.
• On Monday, June 23rd, Lai Wang sold 1,028 shares of BeOne Medicines stock. The stock was sold at an average price of $260.00, for a total transaction of $267,280.00.
• On Tuesday, June 17th, Lai Wang sold 470 shares of BeOne Medicines stock. The stock was sold at an average price of $251.37, for a total transaction of $118,143.90.
• On Monday, June 16th, Lai Wang sold 1,177 shares of BeOne Medicines stock. The stock was sold at an average price of $266.40, for a total transaction of $313,552.80.

BeOne Medicines Trading Up 6.9%

ONC stock traded up $21.74 during midday trading on Thursday, hitting $335.67. The stock had a trading volume of 429,382 shares, compared to its average volume of 429,907. The firm has a market cap of $36.79 billion, a P/E ratio of -194.03 and a beta of 0.21. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.04. BeOne Medicines Ltd. - Sponsored ADR has a 1-year low of $170.99 and a 1-year high of $351.27. The business has a fifty day moving average price of $296.84 and a two-hundred day moving average price of $264.77.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.36. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.24 billion. BeOne Medicines had a negative net margin of 3.89% and a negative return on equity of 1.22%. On average, sell-side analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BeOne Medicines

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. acquired a new position in shares of BeOne Medicines during the second quarter valued at about $774,000. China Universal Asset Management Co. Ltd. bought a new stake in BeOne Medicines in the 2nd quarter worth about $2,007,000. Orion Porfolio Solutions LLC bought a new stake in BeOne Medicines in the 2nd quarter worth about $524,000. Anchor Investment Management LLC bought a new position in shares of BeOne Medicines during the 2nd quarter valued at approximately $26,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of BeOne Medicines during the 2nd quarter valued at approximately $848,000. Institutional investors and hedge funds own 48.55% of the company's stock.

Analyst Upgrades and Downgrades

ONC has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Wall Street Zen lowered shares of BeOne Medicines from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Royal Bank Of Canada boosted their target price on shares of BeOne Medicines from $349.00 to $364.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Guggenheim upped their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $330.89.

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.

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