Lai Wang Sells 756 Shares of BeOne Medicines (NASDAQ:ONC) Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) insider Lai Wang sold 756 shares of BeOne Medicines stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $261.00, for a total value of $197,316.00. Following the sale, the insider owned 1,710,085 shares in the company, valued at $446,332,185. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 8th, Lai Wang sold 1,367 shares of BeOne Medicines stock. The shares were sold at an average price of $269.38, for a total value of $368,242.46.

BeOne Medicines Stock Performance

ONC stock traded up $3.72 during trading on Monday, hitting $268.20. The company had a trading volume of 351,440 shares, compared to its average volume of 258,341. The firm has a market cap of $29.43 billion, a PE ratio of 60.00 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $239.25 and a 1-year high of $385.22. The firm has a 50-day moving average price of $298.56 and a 200-day moving average price of $314.03. The company has a quick ratio of 3.27, a current ratio of 3.64 and a debt-to-equity ratio of 0.20.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $1.51 billion for the quarter. BeOne Medicines had a return on equity of 12.06% and a net margin of 8.94%. On average, analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 6.14 earnings per share for the current year.

Wall Street Analyst Weigh In

ONC has been the topic of several recent research reports. Truist Financial restated a “buy” rating and issued a $413.00 price target (up from $411.00) on shares of BeOne Medicines in a research report on Thursday, May 7th. Wolfe Research initiated coverage on BeOne Medicines in a research report on Friday, March 27th. They issued an “outperform” rating and a $340.00 price target on the stock. Royal Bank Of Canada boosted their price target on BeOne Medicines from $425.00 to $436.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Monday, April 20th. Finally, Leerink Partners boosted their target price on BeOne Medicines from $364.00 to $367.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.00.

Institutional Investors Weigh In On BeOne Medicines

Several institutional investors have recently made changes to their positions in ONC. Bank of America Corp DE purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth $67,657,000. Man Group plc purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth $59,031,000. Capital International Investors boosted its position in shares of BeOne Medicines by 3.3% during the 3rd quarter. Capital International Investors now owns 5,046,058 shares of the company’s stock worth $1,716,883,000 after purchasing an additional 161,052 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of BeOne Medicines during the 2nd quarter worth $38,337,000. Finally, First Trust Advisors LP boosted its position in shares of BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after purchasing an additional 115,601 shares in the last quarter. 48.55% of the stock is currently 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.