Beam Therapeutics (NASDAQ:BEAM) Trading Up 8%

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) traded up 8% during mid-day trading on Monday . The stock traded as high as $31.55 and last traded at $31.36. 392,022 shares changed hands during trading, a decline of 66% from the average session volume of 1,146,364 shares. The stock had previously closed at $29.05.

Analyst Upgrades and Downgrades

BEAM has been the topic of several analyst reports. William Blair restated an “outperform” rating on shares of Beam Therapeutics in a report on Tuesday, October 31st. SVB Leerink lowered Beam Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $75.00 to $20.00 in a research report on Friday, October 20th. Leerink Partnrs lowered Beam Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, October 20th. Cantor Fitzgerald lowered Beam Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, October 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 target price (down from $75.00) on shares of Beam Therapeutics in a research report on Friday, December 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Beam Therapeutics has an average rating of “Hold” and an average target price of $43.92.

Get Our Latest Stock Report on BEAM

Beam Therapeutics Price Performance

The company has a market cap of $2.72 billion, a P/E ratio of -7.88 and a beta of 1.66. The company has a fifty day simple moving average of $27.00 and a 200-day simple moving average of $25.24.

Insiders Place Their Bets

In other news, insider Christine Bellon sold 1,907 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $26.42, for a total transaction of $50,382.94. Following the transaction, the insider now directly owns 80,495 shares in the company, valued at approximately $2,126,677.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Christine Bellon sold 1,907 shares of Beam Therapeutics stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $26.42, for a total value of $50,382.94. Following the completion of the sale, the insider now owns 80,495 shares of the company’s stock, valued at approximately $2,126,677.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,058,262 shares of the company’s stock, valued at approximately $26,805,776.46. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its position in Beam Therapeutics by 163.7% during the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after acquiring an additional 686 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Beam Therapeutics by 125.9% during the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after buying an additional 554 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Beam Therapeutics during the fourth quarter valued at about $35,000. National Bank of Canada FI raised its position in shares of Beam Therapeutics by 200.0% during the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after buying an additional 923 shares during the last quarter. Institutional investors and hedge funds own 80.64% of the company’s stock.

Beam Therapeutics Company Profile

(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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.

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