Beam Therapeutics Inc. (NASDAQ:BEAM) CEO Sells $562,666.05 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John M. Evans sold 30,663 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Beam Therapeutics Trading Down 10.9 %

NASDAQ BEAM traded down $2.02 during mid-day trading on Thursday, hitting $16.46. The company’s stock had a trading volume of 3,382,207 shares, compared to its average volume of 1,323,521. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -9.35 and a beta of 2.02. The company’s 50 day simple moving average is $26.27 and its 200 day simple moving average is $25.75. Beam Therapeutics Inc. has a twelve month low of $16.26 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was down 90.5% on a year-over-year basis. As a group, research analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Institutional Investors Weigh In On Beam Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BEAM. Horizon Kinetics Asset Management LLC boosted its holdings in Beam Therapeutics by 4.4% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 9,597 shares of the company’s stock worth $238,000 after acquiring an additional 403 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Beam Therapeutics by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock worth $198,000 after purchasing an additional 496 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Beam Therapeutics by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the company’s stock worth $524,000 after purchasing an additional 516 shares in the last quarter. Martingale Asset Management L P increased its stake in Beam Therapeutics by 8.6% in the 4th quarter. Martingale Asset Management L P now owns 11,438 shares of the company’s stock valued at $284,000 after buying an additional 909 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Beam Therapeutics by 0.8% during the 4th quarter. Swiss National Bank now owns 137,800 shares of the company’s stock worth $3,417,000 after buying an additional 1,100 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BEAM shares. Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective for the company in a research report on Monday, March 10th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Jones Trading upgraded shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, March 10th. Royal Bank of Canada increased their price target on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $49.45.

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.