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 stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value 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. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Beam Therapeutics Stock Up 8.0 %

BEAM opened at $27.82 on Thursday. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50. The company has a fifty day moving average of $26.49 and a 200-day moving average of $25.77. The stock has a market cap of $2.30 billion, a PE ratio of -15.81 and a beta of 1.92.

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

Analyst Ratings Changes

BEAM has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a report on Monday. Cantor Fitzgerald raised Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics currently has an average rating of “Buy” and a consensus price target of $47.67.

Institutional Investors Weigh In On Beam Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BEAM. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Beam Therapeutics by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the company’s stock worth $524,000 after purchasing an additional 516 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Beam Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after buying an additional 524 shares during the period. GAMMA Investing LLC increased its stake in shares of Beam Therapeutics by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,620 shares of the company’s stock valued at $113,000 after acquiring an additional 544 shares in the last quarter. Green Alpha Advisors LLC lifted its position in shares of Beam Therapeutics by 5.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 12,475 shares of the company’s stock valued at $306,000 after acquiring an additional 698 shares during the period. Finally, Blue Trust Inc. boosted its stake in Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after acquiring an additional 1,139 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

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.