Christine Bellon Sells 5,956 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,956 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total transaction of $146,398.48. Following the transaction, the insider directly owned 109,711 shares of the company’s stock, valued at approximately $2,696,696.38. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christine Bellon also recently made the following trade(s):

• On Thursday, January 22nd, Christine Bellon sold 1,371 shares of Beam Therapeutics stock. The stock was sold at an average price of $34.00, for a total transaction of $46,614.00.
• On Thursday, January 15th, Christine Bellon sold 18,629 shares of Beam Therapeutics stock. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69.

Beam Therapeutics Trading Down 1.7%

BEAM traded down $0.43 on Monday, reaching $24.23. The stock had a trading volume of 1,298,322 shares, compared to its average volume of 1,988,365. The business’s 50-day moving average price is $26.65 and its two-hundred day moving average price is $26.43. The company has a market cap of $2.47 billion, a P/E ratio of -23.99 and a beta of 2.18. Beam Therapeutics Inc. has a 12-month low of $13.52 and a 12-month high of $36.44.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BEAM shares. Royal Bank Of Canada lifted their price target on shares of Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. UBS Group began coverage on Beam Therapeutics in a report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price objective on the stock. Citigroup lifted their target price on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Finally, 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 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its position in shares of Beam Therapeutics by 55,780.0% in the first quarter. Jones Financial Companies Lllp now owns 33,528 shares of the company’s stock valued at $655,000 after purchasing an additional 33,468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Beam Therapeutics by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 438,529 shares of the company’s stock worth $8,564,000 after buying an additional 42,609 shares in the last quarter. Legal & General Group Plc boosted its stake in Beam Therapeutics by 8.5% during the second quarter. Legal & General Group Plc now owns 102,646 shares of the company’s stock worth $1,746,000 after buying an additional 8,023 shares during the last quarter. Rhumbline Advisers boosted its stake in Beam Therapeutics by 7.2% during the second quarter. Rhumbline Advisers now owns 151,372 shares of the company’s stock worth $2,575,000 after buying an additional 10,168 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Beam Therapeutics in the 2nd quarter valued at $201,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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.