BeOne Medicines (NASDAQ:ONC) Trading Down 4.8% – Here’s What Happened

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC)’s stock price dropped 4.8% during trading on Friday . The company traded as low as $312.44 and last traded at $315.56. Approximately 190,761 shares were traded during trading, a decline of 50% from the average daily volume of 384,078 shares. The stock had previously closed at $331.40.

Analyst Upgrades and Downgrades

ONC has been the subject of a number of recent analyst reports. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada increased their target price on BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, October 8th. Finally, Truist Financial set a $400.00 price target on shares of BeOne Medicines in a research report on Monday, November 24th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.79.

BeOne Medicines Trading Down 3.9%

The company has a market capitalization of $37.76 billion, a P/E ratio of 624.59 and a beta of 0.45. The company has a current ratio of 2.39, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $332.91 and a 200-day moving average of $301.64.

Insiders Place Their Bets

In other BeOne Medicines news, Director Corazon (Corsee) D. Sanders sold 2,627 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $340.90, for a total transaction of $895,544.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lai Wang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $350.06, for a total value of $1,750,300.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 81,094 shares of company stock worth $27,929,161. 6.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ONC. Anchor Investment Management LLC purchased a new stake in BeOne Medicines during the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BeOne Medicines in the 2nd quarter worth about $28,000. Daiwa Securities Group Inc. purchased a new stake in shares of BeOne Medicines during the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at about $39,000. Finally, Signaturefd LLC bought a new position in shares of BeOne Medicines in the 2nd quarter valued at about $49,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.