Amy Simon Sells 16,667 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Amy Simon sold 16,667 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider directly owned 85,696 shares in the company, valued at $2,205,815.04. This represents a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Beam Therapeutics Stock Performance

BEAM opened at $26.49 on Friday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -38.96 and a beta of 2.18. The business’s 50-day moving average price is $31.07 and its two-hundred day moving average price is $29.22. Beam Therapeutics Inc. has a 1 year low of $15.60 and a 1 year high of $38.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.12. The company had revenue of $31.74 million during the quarter, compared to analysts’ expectations of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.Beam Therapeutics’s revenue for the quarter was up 323.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.23) earnings per share. Equities analysts expect that Beam Therapeutics Inc. will post -4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BEAM shares. Sanford C. Bernstein decreased their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Tudor Pickering set a $39.00 target price on shares of Beam Therapeutics in a report on Wednesday, May 13th. Bank of America reaffirmed a “buy” rating and issued a $47.00 target price on shares of Beam Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.85.

Institutional Investors Weigh In On Beam Therapeutics

Several large investors have recently made changes to their positions in BEAM. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Beam Therapeutics during the fourth quarter worth $47,000. Hollencrest Capital Management bought a new position in shares of Beam Therapeutics in the 1st quarter valued at about $43,000. Larson Financial Group LLC grew its position in shares of Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after acquiring an additional 1,923 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Beam Therapeutics during the 4th quarter worth about $59,000. Finally, Van ECK Associates Corp increased its stake in shares of Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Company Profile

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.