Beigene (NASDAQ:ONC) Shares Gap Down After Insider Selling

Beigene, Ltd. (NASDAQ:ONC - Get Free Report)'s stock price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $271.80, but opened at $255.83. Beigene shares last traded at $245.79, with a volume of 250,731 shares traded.

Specifically, Director Bros. Advisors Lp Baker sold 732,827 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $260.00, for a total value of $190,535,020.00. Following the sale, the director now directly owns 730,642 shares of the company's stock, valued at approximately $189,966,920. The trade was a 50.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Chan Henry Lee sold 1,202 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $258.04, for a total value of $310,164.08. The disclosure for this sale can be found here. In related news, insider Lai Wang sold 5,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $257.23, for a total value of $1,286,150.00. Following the transaction, the insider now owns 920,920 shares in the company, valued at $236,888,251.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

ONC has been the subject of several recent analyst reports. Macquarie lifted their target price on shares of Beigene from $259.00 to $313.00 and gave the stock an "outperform" rating in a report on Friday. Bank of America raised shares of Beigene from a "neutral" rating to a "buy" rating and raised their price target for the company from $207.00 to $320.00 in a research report on Monday.

Beigene Trading Down 9.7 %

The firm has a market cap of $24.03 billion, a PE ratio of -29.80, a price-to-earnings-growth ratio of 7.73 and a beta of 0.63. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05.

Beigene (NASDAQ:ONC - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.55). Beigene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. On average, analysts predict that Beigene, Ltd. will post -5.82 EPS for the current year.

Beigene Company Profile

BeiGene Ltd. Is a global oncology company, which engages in providing pharmaceutical products. Its medicines include BRUKINSA, TEVIMBRA, and PARTRUVIX. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.

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