Insider Selling: BeOne Medicines (NASDAQ:ONC) CEO Sells $14,767,062.00 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) CEO John Oyler sold 48,520 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $304.35, for a total value of $14,767,062.00. Following the sale, the chief executive officer owned 11,698 shares in the company, valued at $3,560,286.30. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Oyler also recently made the following trade(s):

• On Friday, July 10th, John Oyler sold 11,698 shares of BeOne Medicines stock. The stock was sold at an average price of $298.34, for a total value of $3,489,981.32.
• On Tuesday, July 14th, John Oyler sold 145,861 shares of BeOne Medicines stock. The stock was sold at an average price of $305.95, for a total value of $44,626,172.95.
• On Tuesday, June 23rd, John Oyler sold 3,410 shares of BeOne Medicines stock. The stock was sold at an average price of $273.78, for a total value of $933,589.80.
• On Tuesday, June 16th, John Oyler sold 3,693 shares of BeOne Medicines stock. The shares were sold at an average price of $265.55, for a total value of $980,676.15.
• On Thursday, June 11th, John Oyler sold 1,949 shares of BeOne Medicines stock. The shares were sold at an average price of $257.24, for a total value of $501,360.76.
• On Monday, June 8th, John Oyler sold 4,940 shares of BeOne Medicines stock. The shares were sold at an average price of $270.56, for a total value of $1,336,566.40.

BeOne Medicines Trading Up 2.0%

Shares of ONC stock opened at $317.42 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.64 and a quick ratio of 3.27. The company has a market cap of $34.83 billion, a price-to-earnings ratio of 71.01 and a beta of 0.49. The stock has a 50 day simple moving average of $290.21 and a 200-day simple moving average of $308.93. BeOne Medicines Ltd. – Sponsored ADR has a 1-year low of $253.95 and a 1-year high of $385.22.

BeOne Medicines (NASDAQ:ONC) last released 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 net margin of 8.94% and a return on equity of 12.06%. On average, equities research analysts expect that BeOne Medicines Ltd. – Sponsored ADR will post 5.86 EPS for the current fiscal year.

Analyst Ratings Changes

ONC has been the subject of a number of research reports. Wolfe Research started coverage on shares of BeOne Medicines in a research note on Friday, March 27th. They set an “outperform” rating and a $340.00 target price for the company. Wells Fargo & Company initiated coverage on shares of BeOne Medicines in a research note on Monday, May 4th. They issued an “overweight” rating and a $400.00 price target on the stock. Guggenheim lifted their price objective on BeOne Medicines from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Truist Financial lifted their price objective on BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $396.00 price objective on shares of BeOne Medicines in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.92.

Institutional Investors Weigh In On BeOne Medicines

Large investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in shares of BeOne Medicines in the second quarter valued at about $67,657,000. Man Group plc acquired a new position in BeOne Medicines during the second quarter worth about $59,031,000. BNP Paribas Financial Markets acquired a new position in BeOne Medicines during the second quarter worth about $38,337,000. First Trust Advisors LP grew its stake in BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after acquiring an additional 115,601 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in BeOne Medicines during the 2nd quarter valued at about $26,034,000. Hedge funds and other 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. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.