Key Points
- Beam Therapeutics insider Fmr Llc sold 33,372 shares on June 25 at an average price of $35.12, for proceeds of about $1.17 million. The sale reduced its ownership by 2.93% to 1,106,071 shares.
- Fmr Llc also sold 251,488 shares on June 26 at an average price of $35.26, totaling roughly $8.87 million, adding to the recent insider selling activity.
- Beam Therapeutics reported stronger-than-expected quarterly results, with EPS of -$0.91 versus an estimate of -$1.03 and revenue of $31.74 million, up 323.2% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $46.83.
Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Fmr Llc sold 33,372 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $35.12, for a total value of $1,172,024.64. Following the sale, the insider owned 1,106,071 shares in the company, valued at $38,845,213.52. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Fmr Llc also recently made the following trade(s):
- On Friday, June 26th, Fmr Llc sold 251,488 shares of Beam Therapeutics stock. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88.
Beam Therapeutics Price Performance
BEAM opened at $34.95 on Tuesday. The stock has a fifty day simple moving average of $30.82 and a two-hundred day simple moving average of $28.73. The company has a current ratio of 16.99, a quick ratio of 16.99 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -51.40 and a beta of 2.25. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $36.88.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The business had revenue of $31.74 million during the quarter, compared to analyst estimates of $10.98 million. During the same quarter last year, the firm posted ($1.23) earnings per share. The company's revenue for the quarter was up 323.2% on a year-over-year basis. Research analysts predict that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
BEAM has been the subject of a number of recent research reports. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, May 21st. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a report on Wednesday, May 13th. Citigroup raised their target price on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a report on Monday, April 20th. Finally, Sanford C. Bernstein dropped their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.83.
Check Out Our Latest Stock Analysis on Beam Therapeutics
Institutional Trading of Beam Therapeutics
Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Beam Therapeutics by 26.0% during the 1st quarter. Bank of America Corp DE now owns 538,290 shares of the company's stock valued at $12,827,000 after purchasing an additional 110,962 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Beam Therapeutics by 136.1% in the first quarter. Janus Henderson Group PLC now owns 93,253 shares of the company's stock worth $2,222,000 after buying an additional 53,752 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Beam Therapeutics in the first quarter worth approximately $34,467,000. California State Teachers Retirement System grew its holdings in shares of Beam Therapeutics by 23.5% during the first quarter. California State Teachers Retirement System now owns 107,741 shares of the company's stock valued at $2,567,000 after buying an additional 20,476 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Beam Therapeutics by 7.3% during the first quarter. Royal Bank of Canada now owns 16,825 shares of the company's stock valued at $401,000 after buying an additional 1,144 shares during the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.
Beam Therapeutics Company Profile
(
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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