Insider Selling: Beam Therapeutics (NASDAQ:BEAM) Insider Sells 16,667 Shares

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) insider Amy Simon sold 16,667 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $25.74, for a total value of $429,008.58. Following the completion of the sale, the insider owned 85,696 shares of the company’s stock, valued at approximately $2,205,815.04. The trade was a 16.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Beam Therapeutics Trading Down 1.0%

Shares of NASDAQ BEAM traded down $0.27 during trading on Wednesday, hitting $26.02. 1,564,470 shares of the company were exchanged, compared to its average volume of 2,140,791. The company has a fifty day moving average price of $31.12 and a 200-day moving average price of $29.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. The firm has a market capitalization of $2.68 billion, a PE ratio of -38.26 and a beta of 2.18. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $38.26.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Tudor Pickering set a $39.00 price objective on Beam Therapeutics in a research report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Tuesday, July 7th. Sanford C. Bernstein decreased their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $47.00 target price on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $46.85.

Get Our Latest Analysis on Beam Therapeutics

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC raised its holdings in shares of Beam Therapeutics by 12.9% in the 4th quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company’s stock valued at $345,590,000 after buying an additional 1,428,355 shares during the period. State Street Corp boosted its holdings in Beam Therapeutics by 30.4% during the 4th quarter. State Street Corp now owns 5,228,529 shares of the company’s stock valued at $144,935,000 after acquiring an additional 1,219,871 shares during the period. Price T Rowe Associates Inc. MD grew its position in Beam Therapeutics by 20.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,730,282 shares of the company’s stock valued at $75,684,000 after acquiring an additional 467,133 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Beam Therapeutics by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock valued at $51,327,000 after acquiring an additional 206,696 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Beam Therapeutics by 2.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,712,359 shares of the company’s stock worth $47,467,000 after purchasing an additional 46,974 shares during the period. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Beam Therapeutics Company Profile

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

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