Beam Therapeutics (NASDAQ:BEAM) CEO Sells $559,250.00 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John Evans sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $22.37, for a total transaction of $559,250.00. Following the sale, the chief executive officer directly owned 986,667 shares of the company’s stock, valued at $22,071,740.79. This trade represents a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Beam Therapeutics Stock Performance

BEAM stock opened at $24.66 on Friday. The stock’s 50 day simple moving average is $26.65 and its 200 day simple moving average is $26.40. Beam Therapeutics Inc. has a 12-month low of $13.52 and a 12-month high of $36.44. The stock has a market capitalization of $2.51 billion, a PE ratio of -24.42 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $3.46. The business had revenue of $114.11 million during the quarter, compared to analyst estimates of $13.22 million. Beam Therapeutics had a negative return on equity of 30.65% and a negative net margin of 57.24%.The company’s quarterly revenue was up 280.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.09) EPS. On average, research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Tudor Pickering set a $41.00 target price on Beam Therapeutics in a research report on Wednesday, January 21st. Citigroup raised their price target on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Royal Bank Of Canada lifted their price target on shares of Beam Therapeutics from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group assumed coverage on shares of Beam Therapeutics in a report on Friday, February 20th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

Institutional Trading of Beam Therapeutics

Hedge funds have recently bought and sold shares of the company. CWM LLC boosted its position in Beam Therapeutics by 15.4% in the fourth quarter. CWM LLC now owns 2,466 shares of the company’s stock worth $68,000 after purchasing an additional 329 shares during the last quarter. Wealth Effects LLC increased its position in shares of Beam Therapeutics by 4.3% during the 4th quarter. Wealth Effects LLC now owns 9,600 shares of the company’s stock valued at $266,000 after purchasing an additional 400 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Beam Therapeutics by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 21,948 shares of the company’s stock worth $608,000 after purchasing an additional 566 shares during the period. Arizona State Retirement System lifted its stake in shares of Beam Therapeutics by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock worth $650,000 after purchasing an additional 580 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after buying an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.