Beam Therapeutics Inc. (NASDAQ:BEAM) CFO Terry-Ann Burrell Sells 5,446 Shares

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) CFO Terry-Ann Burrell sold 5,446 shares of Beam Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.12, for a total transaction of $174,925.52. Following the completion of the transaction, the chief financial officer now owns 70,137 shares in the company, valued at approximately $2,252,800.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Beam Therapeutics Trading Down 2.8 %

Shares of Beam Therapeutics stock opened at $29.68 on Thursday. The company has a fifty day moving average price of $32.97 and a 200 day moving average price of $27.82. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -15.62 and a beta of 1.77.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $2.42. The company had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $34.16 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The firm’s revenue for the quarter was up 1481.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) EPS. Analysts forecast that Beam Therapeutics Inc. will post -5.5 earnings per share for the current year.

Analyst Ratings Changes

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

Read Our Latest Stock Report on Beam Therapeutics

Hedge Funds Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its position in Beam Therapeutics by 6.9% in the 4th quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company’s stock valued at $255,702,000 after buying an additional 609,998 shares during the last quarter. Swiss National Bank boosted its position in Beam Therapeutics by 12.9% in the 3rd quarter. Swiss National Bank now owns 142,400 shares of the company’s stock valued at $3,425,000 after buying an additional 16,300 shares during the last quarter. Citigroup Inc. boosted its position in Beam Therapeutics by 21.5% in the 3rd quarter. Citigroup Inc. now owns 197,597 shares of the company’s stock valued at $4,752,000 after buying an additional 34,943 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Beam Therapeutics by 41.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 106,269 shares of the company’s stock valued at $2,556,000 after buying an additional 31,165 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Beam Therapeutics by 31.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 340,141 shares of the company’s stock valued at $8,180,000 after buying an additional 82,150 shares during the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

About Beam Therapeutics

(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.

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

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