Beam Therapeutics Inc. (NASDAQ:BEAM) Insider Christine Bellon Sells 5,674 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,674 shares of the company’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 $104,117.90. Following the sale, the insider now owns 117,294 shares of the company’s stock, valued at $2,152,344.90. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Beam Therapeutics Stock Performance

Shares of NASDAQ:BEAM opened at $16.46 on Friday. Beam Therapeutics Inc. has a 52 week low of $16.30 and a 52 week high of $35.25. The firm has a market cap of $1.64 billion, a PE ratio of -9.35 and a beta of 2.02. The firm’s fifty day moving average is $26.08 and its 200-day moving average is $25.68.

Beam Therapeutics (NASDAQ:BEAM) last announced 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. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business’s quarterly revenue was down 90.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Institutional Trading of Beam Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC bought a new position in Beam Therapeutics during the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. bought a new stake in shares of Beam Therapeutics in the 4th quarter valued at $43,000. Sterling Capital Management LLC lifted its holdings in Beam Therapeutics by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after buying an additional 2,146 shares during the period. KBC Group NV boosted its position in Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after acquiring an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after acquiring an additional 1,139 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BEAM. 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. Cantor Fitzgerald restated an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Royal Bank of Canada lifted their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Monday, March 10th. Finally, Bank of America raised shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Beam Therapeutics has a consensus rating of “Buy” and a consensus price target 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.