Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) President Giuseppe Ciaramella sold 4,534 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the transaction, the president now directly owns 169,616 shares in the company, valued at approximately $5,448,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Beam Therapeutics Stock Performance
Shares of Beam Therapeutics stock opened at $29.68 on Thursday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -15.62 and a beta of 1.77. Beam Therapeutics Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $49.50. The stock has a 50 day moving average of $32.97 and a 200 day moving average of $27.82.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $2.42. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The business had revenue of $316.20 million for the quarter, compared to analysts' expectations of $34.16 million. During the same period last year, the firm earned ($0.54) earnings per share. The company's revenue for the quarter was up 1481.0% compared to the same quarter last year. Analysts forecast that Beam Therapeutics Inc. will post -5.5 EPS for the current year.
Institutional Trading of Beam Therapeutics
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Hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC increased its position in shares of Beam Therapeutics by 6.9% during the fourth quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company's stock worth $255,702,000 after purchasing an additional 609,998 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Beam Therapeutics by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 7,164,876 shares of the company's stock worth $195,028,000 after purchasing an additional 349,906 shares in the last quarter. BlackRock Inc. increased its position in shares of Beam Therapeutics by 20.0% during the second quarter. BlackRock Inc. now owns 6,350,776 shares of the company's stock worth $202,780,000 after purchasing an additional 1,060,104 shares in the last quarter. State Street Corp increased its position in shares of Beam Therapeutics by 10.8% during the second quarter. State Street Corp now owns 3,587,004 shares of the company's stock worth $114,533,000 after purchasing an additional 350,916 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Beam Therapeutics by 43.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,358,091 shares of the company's stock worth $64,187,000 after purchasing an additional 715,911 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on BEAM shares. TheStreet upgraded Beam Therapeutics from a "d" rating to a "c-" rating in a report on Monday, March 11th. Jefferies Financial Group reissued a "hold" rating and set a $30.00 price target (down from $75.00) on shares of Beam Therapeutics in a research note on Friday, December 8th. Wedbush reissued an "outperform" rating and set a $57.00 price target (up from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised Beam Therapeutics from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $38.00 to $40.00 in a research note on Monday, January 29th. Finally, Royal Bank of Canada raised their price target on Beam Therapeutics from $27.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.00.
Get Our Latest Stock Analysis on Beam Therapeutics
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 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.
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