Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Christine Bellon sold 5,956 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $146,398.48. Following the sale, the insider owned 109,711 shares in the company, valued at approximately $2,696,696.38. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $34.00, for a total value 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 value of $644,749.69.
Beam Therapeutics Stock Performance
Beam Therapeutics stock opened at $24.23 on Tuesday. The stock 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 fifty-two week low of $13.52 and a fifty-two week high of $36.44. The firm's fifty day moving average price is $26.51 and its 200-day moving average price is $26.43.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of ($1.13) by $3.46. The firm had revenue of $114.11 million for the quarter, compared to analysts' expectations of $13.22 million. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The business's quarterly revenue was up 280.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.09) earnings per share. Sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in Beam Therapeutics in the fourth quarter valued at $47,000. Larson Financial Group LLC increased its stake in Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock valued at $48,000 after acquiring an additional 1,923 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Beam Therapeutics in the fourth quarter valued at $59,000. Van ECK Associates Corp grew its position in Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock valued at $52,000 after acquiring an additional 707 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Beam Therapeutics during the fourth quarter valued at approximately $66,000. Institutional investors own 99.68% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on BEAM shares. UBS Group began 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. Canaccord Genuity Group began coverage on shares of Beam Therapeutics in a research report on Friday, February 20th. They issued a "buy" rating and a $74.00 price objective on the stock. Wall Street Zen upgraded shares of Beam Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Royal Bank Of Canada upped their price objective 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. Finally, Citigroup upped their price objective on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.36.
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Beam Therapeutics Company Profile
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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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