Key Points
- CEO John Evans sold 25,000 shares on March 30 at an average price of $22.37 for roughly $559,250, leaving him with 986,667 shares—a 2.47% reduction in his ownership.
- Beam reported a surprise quarterly EPS of $2.33 and revenue of $114.11M, beating estimates and showing a 280% YoY revenue jump, but the company still reports negative net margin and ROE and analysts forecast -4.57 EPS for the fiscal year; consensus rating is a Moderate Buy with a $49.36 target.
Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) CEO John Evans sold 25,000 shares of the business's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $22.37, for a total value of $559,250.00. Following the completion of the sale, the chief executive officer directly owned 986,667 shares of the company's stock, valued at $22,071,740.79. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Beam Therapeutics Price Performance
Shares of BEAM stock opened at $24.66 on Friday. The firm has a market capitalization of $2.51 billion, a PE ratio of -24.42 and a beta of 2.18. Beam Therapeutics Inc. has a 1-year low of $13.52 and a 1-year high of $36.44. The business's fifty day moving average price is $26.79 and its 200 day moving average price is $26.36.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of ($1.13) by $3.46. The business had revenue of $114.11 million for the quarter, compared to analyst estimates of $13.22 million. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The company's quarterly revenue was up 280.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.09) earnings per share. Equities research analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have commented on BEAM. Citigroup boosted their price objective on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. UBS Group started coverage on shares of Beam Therapeutics in a report on Wednesday, January 7th. They issued a "neutral" rating and a $28.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Wednesday, January 21st. Tudor Pickering set a $41.00 price objective on shares of Beam Therapeutics in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada boosted their target price on shares of Beam Therapeutics from $22.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Beam Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.36.
View Our Latest Analysis on BEAM
Institutional Trading of Beam Therapeutics
A number of hedge funds have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Beam Therapeutics in the 4th quarter worth approximately $47,000. Larson Financial Group LLC boosted its stake in shares of Beam Therapeutics by 4,370.5% during the 3rd 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 in the last quarter. Kestra Advisory Services LLC bought a new stake in Beam Therapeutics during the fourth quarter worth approximately $59,000. Van ECK Associates Corp boosted its holdings in shares of Beam Therapeutics by 48.7% during the 3rd 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 period. Finally, Leonteq Securities AG acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 99.68% of the company's stock.
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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