Beam Therapeutics (NASDAQ:BEAM) Insider Christine Bellon Sells 5,956 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,956 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $146,398.48. Following the sale, the insider owned 109,711 shares in the company, valued at $2,696,696.38. The trade was a 5.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christine Bellon also recently made the following trade(s):

• On Thursday, January 22nd, Christine Bellon sold 1,371 shares of Beam Therapeutics stock. The shares were sold at an average price of $34.00, for a total transaction of $46,614.00.
• On Thursday, January 15th, Christine Bellon sold 18,629 shares of Beam Therapeutics stock. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69.

Beam Therapeutics Stock Performance

BEAM stock traded down $0.43 during trading on Monday, reaching $24.23. The company had a trading volume of 1,298,322 shares, compared to its average volume of 1,988,365. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -23.99 and a beta of 2.18. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $36.44. The firm has a 50-day simple moving average of $26.65 and a 200-day simple moving average of $26.43.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $3.46. The business had revenue of $114.11 million for the quarter, compared to analyst estimates of $13.22 million. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. Beam Therapeutics’s revenue for the quarter was up 280.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.09) EPS. Sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Hedge Funds Weigh In On Beam Therapeutics

Institutional investors have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Beam Therapeutics in the fourth quarter worth about $47,000. Larson Financial Group LLC grew its holdings in Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after acquiring an additional 1,923 shares during the period. Van ECK Associates Corp raised its position in Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after acquiring an additional 707 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Beam Therapeutics during the fourth quarter valued at approximately $59,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Beam Therapeutics by 1,248.8% in the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock valued at $65,000 after acquiring an additional 3,534 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BEAM. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Sanford C. Bernstein raised their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada lifted their target price on Beam Therapeutics from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group began coverage on shares of Beam Therapeutics in a research report on Friday, February 20th. They set a “buy” rating and a $74.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.36.

About Beam Therapeutics

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.