Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This 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 this link.
Beam Therapeutics Stock Down 10.9 %
NASDAQ BEAM traded down $2.02 during trading on Thursday, hitting $16.46. 3,382,207 shares of the stock traded hands, compared to its average volume of 1,323,521. The company has a market capitalization of $1.64 billion, a P/E ratio of -9.35 and a beta of 2.02. Beam Therapeutics Inc. has a 12-month low of $16.26 and a 12-month high of $35.25. The firm has a 50-day simple moving average of $26.27 and a 200-day simple moving average of $25.75.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. Beam Therapeutics’s revenue for the quarter was down 90.5% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, research analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.
Hedge Funds Weigh In On Beam Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC bought a new position in shares of Beam Therapeutics in the 4th quarter valued at about $41,000. GF Fund Management CO. LTD. bought a new stake in shares of Beam Therapeutics in the 4th quarter valued at approximately $43,000. Sterling Capital Management LLC boosted its holdings in shares of Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock worth $60,000 after purchasing an additional 2,146 shares during the period. KBC Group NV increased its position in shares of Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after purchasing an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target for the company in a research report on Monday, March 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Guggenheim reissued a “buy” rating and set a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, March 10th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $49.45.
Check Out Our Latest Stock Report on Beam Therapeutics
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.
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