Insider Selling: Beam Therapeutics Inc. (NASDAQ:BEAM) Insider Sells $104,117.90 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,674 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the sale, the insider now owns 117,294 shares of the company’s stock, valued at $2,152,344.90. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Beam Therapeutics Trading Down 7.2 %

Beam Therapeutics stock opened at $15.27 on Friday. 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 12 month low of $14.72 and a 12 month high of $35.25. The stock has a fifty day simple moving average of $25.86 and a two-hundred day simple moving average of $25.61.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. Beam Therapeutics’s revenue for the quarter was down 90.5% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. On average, equities research analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

BEAM has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a research report 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. Scotiabank raised Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target on the stock in a research report on Monday, March 10th. Royal Bank of Canada raised their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 26th. Finally, Bank of America upgraded Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $49.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEAM. Wealthfront Advisers LLC bought a new stake in Beam Therapeutics in the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. purchased a new position in shares of Beam Therapeutics in the 4th quarter worth $43,000. Sterling Capital Management LLC grew its holdings in shares of Beam Therapeutics by 816.0% in the fourth 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 increased its position in Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after acquiring an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after acquiring an additional 1,139 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.