Insider Selling: BeOne Medicines (NASDAQ:ONC) SVP Sells $103,447.88 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) SVP Chan Henry Lee sold 332 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $311.59, for a total value of $103,447.88. Following the completion of the transaction, the senior vice president directly owned 318,370 shares of the company’s stock, valued at $99,200,908.30. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chan Henry Lee also recently made the following trade(s):

• On Wednesday, March 11th, Chan Henry Lee sold 341 shares of BeOne Medicines stock. The shares were sold at an average price of $300.00, for a total value of $102,300.00.
• On Wednesday, February 4th, Chan Henry Lee sold 1,660 shares of BeOne Medicines stock. The shares were sold at an average price of $349.52, for a total value of $580,203.20.

BeOne Medicines Stock Performance

NASDAQ ONC opened at $309.66 on Monday. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $218.31 and a 1-year high of $385.22. The company has a market capitalization of $33.98 billion, a P/E ratio of 122.88 and a beta of 0.53. The business has a 50 day moving average price of $316.84 and a 200 day moving average price of $324.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 3.08.

BeOne Medicines (NASDAQ:ONC) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.02). BeOne Medicines had a net margin of 5.37% and a return on equity of 10.70%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Sell-side analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post -5.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research initiated coverage on BeOne Medicines in a research report on Friday, March 27th. They set an “outperform” rating and a $340.00 price target for the company. Barclays boosted their price target on BeOne Medicines from $394.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Royal Bank Of Canada boosted their price target on BeOne Medicines from $417.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Truist Financial boosted their price target on BeOne Medicines from $400.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Jefferies Financial Group cut BeOne Medicines from a “buy” rating to a “hold” rating and cut their price target for the stock from $420.00 to $290.00 in a report on Monday, March 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BeOne Medicines presently has an average rating of “Moderate Buy” and an average price target of $385.08.

Hedge Funds Weigh In On BeOne Medicines

A number of institutional investors have recently made changes to their positions in ONC. Mirae Asset Global Investments Co. Ltd. grew its position in shares of BeOne Medicines by 1,019.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,816 shares of the company’s stock valued at $14,587,000 after purchasing an additional 38,992 shares during the period. Fiera Capital Corp grew its position in shares of BeOne Medicines by 20.1% in the third quarter. Fiera Capital Corp now owns 25,117 shares of the company’s stock valued at $8,557,000 after purchasing an additional 4,205 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of BeOne Medicines in the third quarter valued at $548,000. Voya Investment Management LLC grew its position in shares of BeOne Medicines by 49.2% in the third quarter. Voya Investment Management LLC now owns 15,490 shares of the company’s stock valued at $5,277,000 after purchasing an additional 5,105 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of BeOne Medicines in the second quarter valued at $2,007,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.