Insider Selling: BeOne Medicines (NASDAQ:ONC) SVP Sells $446,914.30 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) SVP Chan Lee sold 1,115 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $400.82, for a total value of $446,914.30. Following the completion of the sale, the senior vice president owned 455 shares of the company’s stock, valued at approximately $182,373.10. The trade was a 71.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, September 30th, Chan Lee sold 1,115 shares of BeOne Medicines stock. The stock was sold at an average price of $375.00, for a total value of $418,125.00.
• On Tuesday, August 11th, Chan Lee sold 2,666 shares of BeOne Medicines stock. The shares were sold at an average price of $360.00, for a total value of $959,760.00.

BeOne Medicines Stock Performance

Shares of ONC stock traded up $10.37 during trading hours on Monday, reaching $417.33. 567,588 shares of the company traded hands, compared to its average volume of 321,538. The firm has a 50-day moving average price of $363.49 and a 200 day moving average price of $326.34. The company has a market cap of $45.82 billion, a P/E ratio of 53.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 3.19. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $420.00.

BeOne Medicines (NASDAQ:ONC) last released its earnings results on Thursday, November 5th. The company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $1.30. BeOne Medicines had a net margin of 13.86% and a return on equity of 19.04%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.76 billion. As a group, sell-side analysts predict that BeOne Medicines Ltd. – Sponsored ADR will post 8.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price target on shares of BeOne Medicines from $459.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday. Wall Street Zen upgraded shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Guggenheim raised their price objective on shares of BeOne Medicines from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wolfe Research restated an “outperform” rating and set a $370.00 target price on shares of BeOne Medicines in a research note on Monday, August 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $425.00 target price on shares of BeOne Medicines in a report on Friday, October 16th. Sixteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, BeOne Medicines has an average rating of “Moderate Buy” and an average price target of $434.79.

Institutional Trading of BeOne Medicines

Several hedge funds have recently bought and sold shares of ONC. First Trust Advisors LP grew its stake in shares of BeOne Medicines by 91.9% in the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock worth $71,696,000 after buying an additional 115,601 shares in the last quarter. Jennison Associates LLC raised its position in shares of BeOne Medicines by 102.1% during the 1st quarter. Jennison Associates LLC now owns 154,465 shares of the company’s stock valued at $45,871,000 after buying an additional 78,027 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BeOne Medicines during the 1st quarter valued at about $19,438,000. SEB Asset Management AB bought a new position in shares of BeOne Medicines in the 1st quarter valued at about $16,653,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of BeOne Medicines by 96.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock valued at $32,841,000 after acquiring an additional 54,260 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About BeOne Medicines

BeOne Medicines, formerly known as BeiGene, is a global biotechnology company focused on discovering, developing, manufacturing and commercializing cancer medicines. Founded in Beijing in 2010, the company has expanded its research and commercial operations across multiple regions, including the United States, Europe and Asia.

Its marketed products include Brukinsa (zanubrutinib), a targeted therapy for certain blood cancers, and Tevimbra (tislelizumab), an immunotherapy used to treat several types of cancer.