Beam Therapeutics Inc. (NASDAQ:BEAM) President Sells $136,413.90 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella sold 7,434 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $136,413.90. Following the transaction, the president now owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Beam Therapeutics Price Performance

BEAM stock opened at $15.27 on Friday. The firm has a fifty day moving average price of $25.86 and a two-hundred day moving average price of $25.61. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -8.68 and a beta of 2.02. Beam Therapeutics Inc. has a 1-year low of $14.72 and a 1-year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 90.5% compared to the same quarter last year. As a group, analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, March 10th. Finally, Royal Bank of Canada upped their target price on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $49.45.

Institutional Investors Weigh In On Beam Therapeutics

Large investors have recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in shares of Beam Therapeutics during the fourth quarter worth approximately $41,000. GF Fund Management CO. LTD. bought a new stake in Beam Therapeutics during the 4th quarter valued at $43,000. Sterling Capital Management LLC boosted its position in Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock worth $60,000 after acquiring an additional 2,146 shares during the period. KBC Group NV boosted its position in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after acquiring an additional 2,104 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after purchasing an additional 1,139 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

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.