Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) insider Amy Simon sold 502 shares of Beam Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $23.76, for a total value of $11,927.52. Following the completion of the transaction, the insider now owns 69,553 shares in the company, valued at $1,652,579.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Beam Therapeutics Price Performance
Shares of NASDAQ BEAM opened at $23.48 on Thursday. Beam Therapeutics Inc. has a 52-week low of $16.95 and a 52-week high of $49.50. The business has a fifty day moving average of $23.62 and a two-hundred day moving average of $27.76.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.21. The firm had revenue of $7.40 million during the quarter, compared to the consensus estimate of $17.09 million. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The firm’s quarterly revenue was down 69.4% on a year-over-year basis. During the same period last year, the firm posted ($1.33) EPS. As a group, equities analysts forecast that Beam Therapeutics Inc. will post -4.68 earnings per share for the current fiscal year.
Analysts Set New Price Targets
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Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. ARK Investment Management LLC grew its stake in shares of Beam Therapeutics by 6.9% during the fourth quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company’s stock valued at $255,702,000 after purchasing an additional 609,998 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in shares of Beam Therapeutics during the fourth quarter worth $2,673,000. UBS Group AG lifted its stake in shares of Beam Therapeutics by 118.2% during the fourth quarter. UBS Group AG now owns 260,500 shares of the company’s stock valued at $7,091,000 after acquiring an additional 141,102 shares during the period. International Assets Investment Management LLC acquired a new stake in Beam Therapeutics in the fourth quarter worth about $1,852,000. Finally, Citigroup Inc. lifted its position in Beam Therapeutics by 21.5% during the 3rd quarter. Citigroup Inc. now owns 197,597 shares of the company’s stock valued at $4,752,000 after purchasing an additional 34,943 shares during the period. Institutional investors 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.
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