Fmr Llc Sells 33,372 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) insider Fmr Llc sold 33,372 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $35.12, for a total value of $1,172,024.64. Following the sale, the insider owned 1,106,071 shares in the company, valued at approximately $38,845,213.52. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Fmr Llc also recently made the following trade(s):

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• On Friday, June 26th, Fmr Llc sold 251,488 shares of Beam Therapeutics stock. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88.

Beam Therapeutics Trading Up 0.4%

NASDAQ:BEAM traded up $0.15 during mid-day trading on Monday, hitting $34.96. 1,957,098 shares of the company’s stock were exchanged, compared to its average volume of 2,084,441. Beam Therapeutics Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $36.88. 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 firm has a market capitalization of $3.60 billion, a P/E ratio of -51.41 and a beta of 2.25. The company has a 50 day simple moving average of $30.73 and a 200-day simple moving average of $28.67.

Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.12. The firm had revenue of $31.74 million during the quarter, compared to analysts’ expectations of $10.98 million. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The company’s revenue was up 323.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.23) EPS. As a group, research analysts expect that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on BEAM shares. Citigroup raised their target price on Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Thursday, May 21st. Sanford C. Bernstein reduced their target price on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Tudor Pickering set a $39.00 price target on shares of Beam Therapeutics in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.83.

Read Our Latest Stock Analysis on BEAM

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in Beam Therapeutics during the first quarter worth $43,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Beam Therapeutics in the fourth quarter valued at $47,000. Larson Financial Group LLC raised its holdings in shares of Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares during the period. Van ECK Associates Corp raised its holdings in shares of Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after purchasing an additional 707 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Beam Therapeutics during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

About Beam Therapeutics

(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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