Insider Selling: BeOne Medicines (NASDAQ:ONC) COO Sells 3,991 Shares of Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) COO Xiaobin Wu sold 3,991 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $380.43, for a total value of $1,518,296.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Xiaobin Wu also recently made the following trade(s):

• On Monday, November 17th, Xiaobin Wu sold 3,991 shares of BeOne Medicines stock. The stock was sold at an average price of $380.43, for a total value of $1,518,296.13.
• On Thursday, November 13th, Xiaobin Wu sold 6,009 shares of BeOne Medicines stock. The stock was sold at an average price of $380.54, for a total transaction of $2,286,664.86.
• On Wednesday, November 12th, Xiaobin Wu sold 10,000 shares of BeOne Medicines stock. The shares were sold at an average price of $356.02, for a total transaction of $3,560,200.00.

BeOne Medicines Price Performance

Shares of ONC stock traded down $10.13 on Wednesday, reaching $353.79. 233,501 shares of the company were exchanged, compared to its average volume of 390,707. BeOne Medicines Ltd. – Sponsored ADR has a 1 year low of $170.99 and a 1 year high of $385.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.17 and a current ratio of 2.39. The business has a 50-day moving average price of $330.76 and a 200 day moving average price of $293.59. The company has a market cap of $41.94 billion, a price-to-earnings ratio of 693.71 and a beta of 0.31.

Hedge Funds Weigh In On BeOne Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA acquired a new stake in shares of BeOne Medicines in the 2nd quarter worth $1,231,720,000. Capital International Investors increased its position in BeOne Medicines by 3.3% during the third 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 during the last quarter. Temasek Holdings Private Ltd purchased a new position in BeOne Medicines during the second quarter worth about $244,603,000. Marshall Wace LLP purchased a new position in BeOne Medicines during the second quarter worth about $113,190,000. Finally, Bank of America Corp DE grew its stake in shares of BeOne Medicines by 23.5% in the 3rd quarter. Bank of America Corp DE now owns 345,256 shares of the company’s stock valued at $117,629,000 after buying an additional 65,763 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ONC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on BeOne Medicines from $350.00 to $383.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. increased their price objective on BeOne Medicines from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on BeOne Medicines from $395.00 to $408.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $420.00 target price on shares of BeOne Medicines in a report on Monday. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $363.15.

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.