John M. Evans Sells 30,663 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the transaction, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at $18,097,669.15. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Beam Therapeutics Trading Down 7.2 %

Shares of NASDAQ BEAM opened at $15.27 on Friday. Beam Therapeutics Inc. has a 12-month low of $14.72 and a 12-month high of $35.25. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -8.68 and a beta of 2.02. The firm has a 50 day moving average of $25.86 and a 200 day moving average of $25.61.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. Beam Therapeutics’s revenue was down 90.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. Sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wealthfront Advisers LLC bought a new stake in Beam Therapeutics during the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. purchased a new position in shares of Beam Therapeutics during the 4th quarter valued at $43,000. Sterling Capital Management LLC boosted its holdings in Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock worth $60,000 after buying an additional 2,146 shares during the period. KBC Group NV increased its stake in Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after buying an additional 2,104 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after acquiring an additional 1,139 shares during the period. Institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BEAM shares. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, March 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Monday, March 10th. Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective for the company in a report on Monday, March 10th. Finally, Royal Bank of Canada upped their target price on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Beam Therapeutics currently has an average rating of “Buy” and an average price target of $49.45.

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.