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

Beigene, Ltd. (NASDAQ:ONC)’s stock price gapped down before the market opened 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.

Specifically, Director Bros. Advisors Lp Baker sold 732,827 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $260.00, for a total transaction of $190,535,020.00. Following the completion of the sale, the director now owns 730,642 shares of the company’s stock, valued at $189,966,920. This represents a 50.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $258.04, for a total transaction 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 firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $257.23, for a total value of $1,286,150.00. Following the sale, the insider now directly owns 920,920 shares of the company’s stock, valued at $236,888,251.60. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

ONC has been the topic of a number of research analyst reports. Macquarie boosted their price objective on shares of Beigene from $259.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America upgraded shares of Beigene from a “neutral” rating to a “buy” rating and boosted their price target for the company from $207.00 to $320.00 in a research report on Monday.

Beigene Stock Down 9.7 %

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

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

About Beigene

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.