Key Points
- Christine Bellon sold 18,629 shares on Jan. 15 at an average of $34.61 for $644,749.69, cutting her position by 16.11% to 97,038 shares (about $3.36M).
- Beam posted a quarterly EPS of ($1.10) versus a ($0.98) estimate and revenue of $9.7M (versus $12.83M expected), reflecting declining revenue and large negative margins.
- The stock trades near $31 (50‑day MA $26.81, 12‑month high $36.44) and carries an average analyst price target of $44 with a consensus rating of "Moderate Buy."
Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Christine Bellon sold 18,629 shares of the business's stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total value of $644,749.69. Following the completion of the sale, the insider directly owned 97,038 shares of the company's stock, valued at approximately $3,358,485.18. The trade was a 16.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Beam Therapeutics Stock Performance
Shares of BEAM opened at $30.97 on Wednesday. The firm has a market cap of $3.14 billion, a PE ratio of -6.99 and a beta of 2.07. The firm's 50 day moving average price is $26.81 and its 200 day moving average price is $23.53. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $36.44.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.12). The business had revenue of $9.70 million for the quarter, compared to analyst estimates of $12.83 million. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The business's revenue for the quarter was down 32.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) EPS. On average, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beam Therapeutics
A number of hedge funds have recently modified their holdings of BEAM. Allworth Financial LP raised its stake in Beam Therapeutics by 7,080.0% during the second quarter. Allworth Financial LP now owns 2,513 shares of the company's stock worth $43,000 after acquiring an additional 2,478 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after acquiring an additional 1,923 shares during the last quarter. Van ECK Associates Corp raised its position in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock worth $52,000 after purchasing an additional 707 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Beam Therapeutics by 1,248.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company's stock worth $65,000 after acquiring an additional 3,534 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Beam Therapeutics by 43.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company's stock worth $66,000 after purchasing an additional 1,175 shares during the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Evercore ISI began coverage on Beam Therapeutics in a research note on Monday, November 24th. They set an "outperform" rating and a $35.00 price target for the company. Benchmark restated a "speculative buy" rating on shares of Beam Therapeutics in a report on Monday, November 17th. Jefferies Financial Group started coverage on Beam Therapeutics in a report on Thursday, October 9th. They set a "buy" rating and a $41.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Beam Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.00.
Read Our Latest Report on Beam Therapeutics
About Beam Therapeutics
(
Get Free Report)
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.
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