Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) CEO John M. Evans sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the transaction, the chief executive officer now owns 938,659 shares in the company, valued at approximately $23,091,011.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Beam Therapeutics Trading Up 0.4 %
NASDAQ BEAM opened at $23.50 on Thursday. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.20 and a beta of 1.86. The stock's 50 day moving average is $25.84 and its two-hundred day moving average is $25.77.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.02. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The business had revenue of $11.80 million for the quarter, compared to analyst estimates of $14.18 million. During the same quarter in the previous year, the firm earned ($1.08) EPS. Beam Therapeutics's quarterly revenue was down 41.3% on a year-over-year basis. On average, analysts predict that Beam Therapeutics Inc. will post -4.6 earnings per share for the current year.
Analysts Set New Price Targets
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BEAM has been the topic of several recent research reports. Barclays decreased their price target on shares of Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lifted their price target on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Royal Bank of Canada restated a "sector perform" rating and issued a $27.00 price target on shares of Beam Therapeutics in a research report on Thursday, September 19th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.18.
View Our Latest Stock Report on Beam Therapeutics
Institutional Investors Weigh In On Beam Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in BEAM. ARCH Venture Management LLC bought a new position in shares of Beam Therapeutics in the second quarter valued at approximately $127,530,000. Farallon Capital Management LLC increased its holdings in Beam Therapeutics by 75.4% during the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company's stock valued at $185,404,000 after purchasing an additional 3,401,370 shares in the last quarter. Darwin Global Management Ltd. bought a new position in Beam Therapeutics in the 1st quarter valued at $70,032,000. Price T Rowe Associates Inc. MD increased its stake in shares of Beam Therapeutics by 3,137.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,246,189 shares of the company's stock valued at $41,175,000 after buying an additional 1,207,699 shares in the last quarter. Finally, Bellevue Group AG raised its holdings in shares of Beam Therapeutics by 71.7% in the first quarter. Bellevue Group AG now owns 1,193,121 shares of the company's stock valued at $39,421,000 after buying an additional 498,300 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.
About Beam Therapeutics
(
Get Free Report)
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.
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