Beam Therapeutics Inc. (NASDAQ:BEAM) CEO Sells $802,500.00 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Beam Therapeutics Price Performance

Shares of BEAM opened at $25.75 on Wednesday. The firm has a market cap of $2.13 billion, a P/E ratio of -14.63 and a beta of 1.92. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $49.50. The stock has a 50 day simple moving average of $26.48 and a two-hundred day simple moving average of $25.76.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). The business had revenue of $14.30 million during the quarter, compared to analysts’ expectations of $14.52 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. Beam Therapeutics’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the company posted ($1.22) EPS. On average, equities analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Beam Therapeutics by 38.1% during the 2nd quarter. AQR Capital Management LLC now owns 9,011 shares of the company’s stock valued at $211,000 after acquiring an additional 2,487 shares during the period. The Manufacturers Life Insurance Company lifted its position in Beam Therapeutics by 30.8% in the second quarter. The Manufacturers Life Insurance Company now owns 137,089 shares of the company’s stock valued at $3,212,000 after purchasing an additional 32,279 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Beam Therapeutics during the second quarter valued at approximately $267,000. Handelsbanken Fonder AB grew its holdings in shares of Beam Therapeutics by 61.9% in the third quarter. Handelsbanken Fonder AB now owns 28,500 shares of the company’s stock worth $698,000 after purchasing an additional 10,900 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Beam Therapeutics by 13.3% in the third quarter. GAMMA Investing LLC now owns 4,620 shares of the company’s stock worth $113,000 after buying an additional 544 shares during the period. 99.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BEAM has been the topic of several recent analyst reports. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Scotiabank began coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Monday. Finally, Wedbush reissued an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Beam Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $47.67.

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.