BeOne Medicines (NASDAQ:ONC) Shares Gap Down After Insider Selling

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC)’s stock price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $319.06, but opened at $307.48. BeOne Medicines shares last traded at $304.32, with a volume of 284,047 shares trading hands.

Specifically, SVP Chan Henry Lee sold 332 shares of BeOne Medicines stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $325.00, for a total value of $107,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ONC. Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada lifted their price target on shares of BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of BeOne Medicines from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a research report on Wednesday, October 8th. Finally, Zacks Research lowered BeOne Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.79.

BeOne Medicines Price Performance

The firm has a market cap of $36.83 billion, a P/E ratio of 609.16 and a beta of 0.45. The company has a fifty day moving average of $330.37 and a 200-day moving average of $306.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.39 and a quick ratio of 2.17.

Institutional Trading of BeOne Medicines

Several institutional investors have recently made changes to their positions in ONC. Primecap Management Co. CA bought a new position in shares of BeOne Medicines during the second quarter valued at about $1,231,720,000. Temasek Holdings Private Ltd purchased a new stake in BeOne Medicines in the 2nd quarter valued at about $244,603,000. Marshall Wace LLP bought a new position in shares of BeOne Medicines during the 2nd quarter worth approximately $113,190,000. Baird Financial Group Inc. purchased a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $82,895,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of BeOne Medicines in the 2nd quarter worth approximately $73,347,000. Institutional investors own 48.55% of the company’s stock.

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.