Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John M. Evans Sells 18,102 Shares

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) CEO John M. Evans sold 18,102 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.13, for a total value of $581,617.26. Following the completion of the transaction, the chief executive officer now owns 1,058,343 shares in the company, valued at $34,004,560.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Beam Therapeutics Stock Down 2.8 %

NASDAQ:BEAM opened at $29.68 on Thursday. The business’s 50-day simple moving average is $32.97 and its two-hundred day simple moving average is $27.82. The stock has a market cap of $2.42 billion, a PE ratio of -15.62 and a beta of 1.77. Beam Therapeutics Inc. has a 52 week low of $16.95 and a 52 week high of $49.50.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $2.42. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The firm had revenue of $316.20 million for the quarter, compared to analysts’ expectations of $34.16 million. During the same period in the previous year, the firm posted ($0.54) earnings per share. The business’s revenue was up 1481.0% compared to the same quarter last year. Sell-side analysts anticipate that Beam Therapeutics Inc. will post -5.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Therapeutics

Several large investors have recently made changes to their positions in BEAM. State Street Corp increased its holdings in shares of Beam Therapeutics by 68.4% in the second quarter. State Street Corp now owns 3,336,327 shares of the company’s stock worth $129,149,000 after purchasing an additional 1,354,781 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Beam Therapeutics by 20.0% in the second quarter. BlackRock Inc. now owns 6,350,776 shares of the company’s stock worth $202,780,000 after purchasing an additional 1,060,104 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Beam Therapeutics by 17.7% in the third quarter. Vanguard Group Inc. now owns 6,174,471 shares of the company’s stock worth $294,153,000 after purchasing an additional 927,970 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Beam Therapeutics by 43.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,358,091 shares of the company’s stock worth $64,187,000 after acquiring an additional 715,911 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Beam Therapeutics by 43.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,358,091 shares of the company’s stock worth $64,093,000 after acquiring an additional 715,911 shares during the last quarter. 99.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised their price target on Beam Therapeutics from $26.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $75.00) on shares of Beam Therapeutics in a research report on Friday, December 8th. Royal Bank of Canada lifted their target price on Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Finally, JPMorgan Chase & Co. upgraded Beam Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $40.00 in a research report on Monday, January 29th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.00.

View Our Latest Report on Beam Therapeutics

Beam Therapeutics Company Profile

(Get Free Report)

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.

Further Reading

Insider Buying and Selling by Quarter for Beam Therapeutics (NASDAQ:BEAM)

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