Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Christine Bellon sold 5,674 shares of Beam Therapeutics stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the sale, the insider now owns 117,294 shares of the company's stock, valued at $2,152,344.90. This represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Beam Therapeutics Price Performance
BEAM opened at $16.46 on Friday. Beam Therapeutics Inc. has a 1 year low of $16.30 and a 1 year high of $35.25. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -9.35 and a beta of 2.02. The firm's fifty day moving average price is $26.08 and its two-hundred day moving average price is $25.68.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.16. The business had revenue of $30.00 million for the quarter, compared to analysts' expectations of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm's revenue for the quarter was down 90.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, equities analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.
Analyst Upgrades and Downgrades
BEAM has been the subject of several research analyst reports. 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 note on Monday, March 10th. Guggenheim reaffirmed a "buy" rating and issued a $78.00 target price on shares of Beam Therapeutics in a research report on Thursday, February 27th. Bank of America upgraded Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a report on Friday, March 28th. Sanford C. Bernstein upgraded Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their target price on Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $49.45.
Check Out Our Latest Stock Analysis on Beam Therapeutics
Hedge Funds Weigh In On Beam Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. Wealthfront Advisers LLC purchased a new stake in shares of Beam Therapeutics during the fourth quarter valued at approximately $41,000. GF Fund Management CO. LTD. bought a new position in Beam Therapeutics in the 4th quarter valued at $43,000. Sterling Capital Management LLC increased its position in shares of Beam Therapeutics by 816.0% during the 4th 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 last quarter. KBC Group NV raised its stake in shares of Beam Therapeutics by 103.2% during the 4th 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. boosted its holdings in shares of Beam Therapeutics by 36.3% in 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. Hedge funds and other institutional investors 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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