BeOne Medicines (NASDAQ:ONC) Insider Sells $1,750,300.00 in 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 BeOne Medicines stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total value of $1,750,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 value 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 value 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 shares were sold at an average price of $260.00, for a total value 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 value 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 Stock Down 1.5%

NASDAQ:ONC traded down $5.07 on Tuesday, hitting $327.20. The stock had a trading volume of 316,557 shares, compared to its average volume of 331,106. The firm's fifty day simple moving average is $303.70 and its two-hundred day simple moving average is $266.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.95. BeOne Medicines Ltd. - Sponsored ADR has a 1 year low of $170.99 and a 1 year high of $351.27. The stock has a market cap of $35.86 billion, a P/E ratio of -189.13 and a beta of 0.21.

BeOne Medicines (NASDAQ:ONC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.36. The firm had revenue of $1.32 billion during 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%. Analysts predict that BeOne Medicines Ltd. - Sponsored ADR will post -5.82 earnings per share for the current year.

Institutional Investors Weigh In On BeOne Medicines

A number of large investors have recently added to or reduced their stakes in ONC. Anchor Investment Management LLC purchased a new position in BeOne Medicines in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BeOne Medicines in the second quarter worth $28,000. Daiwa Securities Group Inc. acquired a new position in BeOne Medicines in the second quarter worth $35,000. Farther Finance Advisors LLC acquired a new position in BeOne Medicines in the second quarter worth $39,000. Finally, Signaturefd LLC acquired a new position in shares of BeOne Medicines during the second quarter valued at $49,000. 48.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of BeOne Medicines from $313.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Guggenheim boosted their price objective on shares of BeOne Medicines from $350.00 to $365.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of BeOne Medicines from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Royal Bank Of Canada raised their price target on shares of BeOne Medicines from $349.00 to $364.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of BeOne Medicines from $321.00 to $345.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, BeOne Medicines presently has a consensus rating of "Buy" and a consensus target price of $330.89.

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.