Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $24.50, for a total value of $1,470,000.00. Following the sale, the chief executive officer now directly owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Beam Therapeutics Stock Down 2.3 %
Shares of Beam Therapeutics stock traded down $0.55 during trading on Friday, reaching $23.43. The company’s stock had a trading volume of 4,059,652 shares, compared to its average volume of 1,404,293. Beam Therapeutics Inc. has a 12-month low of $16.95 and a 12-month high of $49.50. The company has a market capitalization of $1.93 billion, a P/E ratio of -13.16 and a beta of 1.89. The business has a 50 day moving average price of $23.66 and a 200-day moving average price of $27.90.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.21. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. The firm had revenue of $7.40 million for the quarter, compared to the consensus estimate of $17.09 million. During the same period in the previous year, the business earned ($1.33) earnings per share. The company’s revenue for the quarter was down 69.4% compared to the same quarter last year. Research analysts predict that Beam Therapeutics Inc. will post -4.68 EPS for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Stock Report on BEAM
Hedge Funds Weigh In On Beam Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in Beam Therapeutics by 125.9% during the fourth 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 last quarter. E Fund Management Co. Ltd. raised its holdings in Beam Therapeutics by 4.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 18,174 shares of the company’s stock worth $495,000 after purchasing an additional 704 shares during the last quarter. American International Group Inc. raised its holdings in shares of Beam Therapeutics by 2.0% in the first quarter. American International Group Inc. now owns 36,760 shares of the company’s stock worth $1,215,000 after acquiring an additional 732 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Beam Therapeutics by 4.5% in the first quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock worth $609,000 after acquiring an additional 789 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Beam Therapeutics in the first quarter worth $26,000. 99.68% of the stock is owned by institutional investors and hedge funds.
About Beam Therapeutics
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.
Further Reading
- Five stocks we like better than Beam Therapeutics
- The How and Why of Investing in Gold Stocks
- Qualcomm Stock: AI-Powered Growth Despite Volatility
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Salesforce Stock: Meeting Recap, AI Focus, and Forecast
- Stock Market Upgrades: What Are They?
- Is CAVA Overextended? A Closer Look at This High-Flying Stock
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.