Beam Therapeutics Inc. (NASDAQ:BEAM) Insider Christine Bellon Sells 1,241 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total value of $30,627.88. Following the transaction, the insider now owns 102,968 shares of the company’s stock, valued at $2,541,250.24. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Beam Therapeutics Stock Up 3.9 %

NASDAQ:BEAM opened at $26.36 on Tuesday. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50. The business has a 50 day moving average price of $26.36 and a two-hundred day moving average price of $25.62. The company has a market cap of $2.18 billion, a P/E ratio of -14.98 and a beta of 1.92.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.52 million. During the same period last year, the company earned ($1.22) EPS. The company’s revenue was down 16.9% compared to the same quarter last year. As a group, analysts anticipate that Beam Therapeutics Inc. will post -4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beam Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BEAM. Fairfield Financial Advisors LTD bought a new stake in shares of Beam Therapeutics during the 2nd quarter worth approximately $26,000. National Bank of Canada FI raised its stake in shares of Beam Therapeutics by 200.0% during the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after purchasing an additional 2,000 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Beam Therapeutics by 84.0% during the 3rd quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock worth $73,000 after purchasing an additional 1,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Beam Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after purchasing an additional 524 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Beam Therapeutics by 350.0% during the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

BEAM has been the subject of several analyst reports. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada decreased their price objective on Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Scotiabank assumed coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Finally, Cantor Fitzgerald upgraded Beam Therapeutics to a “hold” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

Beam Therapeutics Company Profile

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.