Key Points
- Beam Therapeutics insider Amy Simon sold 16,667 shares at an average price of $25.74, generating approximately $429,009. Following the transaction, Simon retained 85,696 shares, a 16.28% reduction in ownership.
- BEAM shares opened at $26.02 and were trading below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $0.91 per share, but revenue of $31.74 million significantly exceeded estimates and rose 323.2% year over year.
- Analyst sentiment remains broadly positive, with ten Buy ratings, three Holds, and one Sell, producing a consensus rating of “Moderate Buy” and an average price target of $46.85. Institutional investors and hedge funds collectively own 99.68% of the company’s stock.
Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Amy Simon sold 16,667 shares of Beam Therapeutics stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider owned 85,696 shares of the company's stock, valued at approximately $2,205,815.04. The trade was a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Beam Therapeutics Trading Down 1.0%
Shares of BEAM stock opened at $26.02 on Thursday. 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 stock has a market cap of $2.68 billion, a P/E ratio of -38.26 and a beta of 2.18. The stock has a 50 day simple moving average of $31.10 and a 200 day simple moving average of $29.22. Beam Therapeutics Inc. has a 1 year low of $15.60 and a 1 year high of $38.26.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the prior year, the business posted ($1.23) earnings per share. The firm's quarterly revenue was up 323.2% compared to the same quarter last year. On average, research analysts predict that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Beam Therapeutics
A number of large investors have recently modified their holdings of BEAM. Hollencrest Capital Management bought a new position in shares of Beam Therapeutics in the 1st quarter valued at $43,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Beam Therapeutics during the 4th quarter worth $47,000. Larson Financial Group LLC lifted its position 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 buying an additional 1,923 shares during the last quarter. Van ECK Associates Corp boosted its stake in Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock valued at $52,000 after buying an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Beam Therapeutics in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 99.68% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on BEAM. Sanford C. Bernstein decreased 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. Bank of America reaffirmed a "buy" rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Beam Therapeutics in a report on Friday, July 17th. Finally, Tudor Pickering set a $39.00 target price on shares of Beam Therapeutics in a research report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Beam Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $46.85.
View Our Latest Analysis on BEAM
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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