Christine Bellon Sells 5,674 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,674 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $104,117.90. Following the transaction, the insider now directly owns 117,294 shares of the company’s stock, valued at $2,152,344.90. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $15.27 on Friday. The business has a 50 day moving average price of $25.86 and a 200 day moving average price of $25.61. The company has a market capitalization of $1.52 billion, a P/E ratio of -8.68 and a beta of 2.02. Beam Therapeutics Inc. has a 1 year low of $14.72 and a 1 year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. During the same quarter last year, the company earned $1.73 earnings per share. The business’s revenue for the quarter was down 90.5% compared to the same quarter last year. As a group, research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a report on Monday, March 10th. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, March 10th. Guggenheim reiterated a “buy” rating and issued a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. Finally, Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price on the stock in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $49.45.

Institutional Investors Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of BEAM. Wealthfront Advisers LLC purchased a new stake in Beam Therapeutics in the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. acquired a new stake in shares of Beam Therapeutics in the fourth quarter worth approximately $43,000. Sterling Capital Management LLC grew its holdings in Beam Therapeutics by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after purchasing an additional 2,146 shares during the period. KBC Group NV raised its stake in Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after purchasing an additional 2,104 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after buying an additional 1,139 shares during the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.