Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) CEO John Evans sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the completion of the transaction, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at approximately $24,682,621.85. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Beam Therapeutics Stock Down 5.1%
Shares of Beam Therapeutics stock traded down $1.26 during trading on Friday, hitting $23.47. The stock had a trading volume of 1,645,639 shares, compared to its average volume of 1,833,477. Beam Therapeutics Inc. has a 1 year low of $20.23 and a 1 year high of $38.26. The stock has a 50 day simple moving average of $26.30 and a 200 day simple moving average of $28.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The firm had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $16.37 million. During the same quarter last year, the company posted ($1.00) EPS. The firm’s revenue was down 94.2% compared to the same quarter last year. On average, analysts predict that Beam Therapeutics Inc. will post -4.49 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on BEAM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of Beam Therapeutics in a research note on Wednesday. Wall Street Zen upgraded Beam Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Finally, William Blair raised Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.10.
Read Our Latest Stock Report on Beam Therapeutics
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Beam Therapeutics in the second quarter valued at about $308,796,000. ARCH Venture Management LLC bought a new stake in shares of Beam Therapeutics in the 2nd quarter valued at approximately $155,771,929. Dimensional Fund Advisors LP increased its stake in shares of Beam Therapeutics by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock worth $51,327,000 after purchasing an additional 206,696 shares during the last quarter. MWG Caph Ltd acquired a new position in shares of Beam Therapeutics during the 4th quarter worth $35,119,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Beam Therapeutics during the 1st quarter valued at $34,467,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.
About Beam Therapeutics
Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines using base editing, a technology designed to make targeted changes to DNA without cutting both strands of the DNA double helix. The company’s platform is intended to address diseases caused by specific genetic mutations and to support the development of potentially durable treatments.
Beam’s research and development activities focus on areas including hematology, liver diseases and genetic disorders.
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