Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 11,800,000 shares, a drop of 8.9% from the June 15th total of 12,950,000 shares. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is currently 8.7 days.
Insider Activity at Beam Therapeutics
In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $24.50, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in shares of Beam Therapeutics by 125.9% in the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock worth $27,000 after purchasing an additional 554 shares during the period. E Fund Management Co. Ltd. increased its position in shares of Beam Therapeutics by 4.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 18,174 shares of the company’s stock worth $495,000 after acquiring an additional 704 shares in the last quarter. American International Group Inc. raised its stake in shares of Beam Therapeutics by 2.0% in the 1st quarter. American International Group Inc. now owns 36,760 shares of the company’s stock valued at $1,215,000 after acquiring an additional 732 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Beam Therapeutics by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock valued at $609,000 after acquiring an additional 789 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in Beam Therapeutics during the 1st quarter worth $26,000. Institutional investors and hedge funds own 99.68% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Beam Therapeutics
Beam Therapeutics Stock Performance
NASDAQ BEAM traded up $1.27 during trading hours on Tuesday, hitting $26.89. 543,463 shares of the company’s stock were exchanged, compared to its average volume of 1,362,748. The business’s 50 day moving average is $23.97 and its 200-day moving average is $27.54. Beam Therapeutics has a 12-month low of $16.95 and a 12-month high of $49.50. The firm has a market capitalization of $2.21 billion, a P/E ratio of -15.21 and a beta of 1.88.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.21. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The firm had revenue of $7.40 million during the quarter, compared to the consensus estimate of $17.09 million. During the same period in the previous year, the firm earned ($1.33) earnings per share. Beam Therapeutics’s revenue was down 69.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Beam Therapeutics will post -4.68 EPS for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Beam Therapeutics
- ETF Screener: Uses and Step-by-Step Guide
- Tech Leader’s Stock Split: Is It the Right Time to Buy?
- Top Stocks Investing in 5G Technology
- Could the Economy be Bottoming? Major Bank’s Earnings Say Yes
- How to Use the MarketBeat Excel Dividend Calculator
- Seize This Prime Stock Opportunity on Amazon Prime Days
Receive News & Ratings for Beam Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beam Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.