Insider Selling: BeOne Medicines (NASDAQ:ONC) CEO Sells $25,661,243.30 in Stock

BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) CEO John Oyler sold 70,907 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.90, for a total transaction of $25,661,243.30. Following the completion of the sale, the chief executive officer directly owned 54,892 shares in the company, valued at approximately $19,865,414.80. This trade represents a 56.37% decrease in their position. 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 Wednesday, August 12th, John Oyler sold 54,892 shares of BeOne Medicines stock. The stock was sold at an average price of $358.15, for a total transaction of $19,659,569.80.
• On Monday, August 10th, John Oyler sold 115,011 shares of BeOne Medicines stock. The shares were sold at an average price of $357.87, for a total transaction of $41,158,986.57.
• On Monday, July 20th, John Oyler sold 48,316 shares of BeOne Medicines stock. The shares were sold at an average price of $312.25, for a total value of $15,086,671.00.
• On Tuesday, July 21st, John Oyler sold 61,397 shares of BeOne Medicines stock. The stock was sold at an average price of $317.67, for a total value of $19,503,984.99.
• On Friday, July 10th, John Oyler sold 11,698 shares of BeOne Medicines stock. The shares were sold at an average price of $298.34, for a total value of $3,489,981.32.
• On Monday, July 13th, John Oyler sold 48,520 shares of BeOne Medicines stock. The shares were sold at an average price of $304.35, for a total value of $14,767,062.00.
• 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 transaction of $44,626,172.95.
• On Tuesday, June 23rd, John Oyler sold 3,410 shares of BeOne Medicines stock. The shares were sold at an average price of $273.78, for a total transaction 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 transaction 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.

BeOne Medicines Price Performance

Shares of NASDAQ ONC traded down $0.22 during midday trading on Wednesday, hitting $359.05. 314,911 shares of the company’s stock were exchanged, compared to its average volume of 289,218. BeOne Medicines Ltd. – Sponsored ADR has a 12-month low of $253.95 and a 12-month high of $385.22. The company has a current ratio of 3.40, a quick ratio of 3.06 and a debt-to-equity ratio of 0.17. The company has a market cap of $39.39 billion, a price-to-earnings ratio of 63.21 and a beta of 0.49. The business’s fifty day moving average price is $299.80 and its two-hundred day moving average price is $308.98.

BeOne Medicines (NASDAQ:ONC) last announced its earnings results on Wednesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.65. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, research analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BeOne Medicines in a report on Friday, July 17th. Wells Fargo & Company initiated coverage on BeOne Medicines in a research report on Monday, May 4th. They set an “overweight” rating and a $400.00 price target on the stock. TD Cowen lifted their price target on BeOne Medicines from $424.00 to $454.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada cut their price objective on BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Citizens Jmp raised their price objective on BeOne Medicines from $396.00 to $405.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $402.14.

Institutional Investors Weigh In On BeOne Medicines

A number of institutional investors have recently made changes to their positions in ONC. Bank of America Corp DE purchased a new stake in BeOne Medicines during the second quarter valued at about $67,657,000. Man Group plc purchased a new position in shares of BeOne Medicines in the second quarter worth about $59,031,000. BNP Paribas Financial Markets bought a new stake in shares of BeOne Medicines in the 2nd quarter valued at about $38,337,000. First Trust Advisors LP lifted 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 valued at $71,696,000 after acquiring an additional 115,601 shares during 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.