Insider Selling: Beam Therapeutics Inc. (NASDAQ:BEAM) Insider Sells 19,466 Shares of Stock

Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) insider Fmr Llc sold 19,466 shares of the company’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $50.41, for a total value of $981,281.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Beam Therapeutics stock opened at $46.40 on Friday. Beam Therapeutics Inc. has a one year low of $46.40 and a one year high of $138.52. The business has a 50-day simple moving average of $62.29 and a 200 day simple moving average of $74.40.

Beam Therapeutics (NASDAQ:BEAM – Get Rating) last released its quarterly earnings results on Monday, February 28th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.01). Beam Therapeutics had a negative net margin of 714.91% and a negative return on equity of 52.28%. During the same period last year, the company posted ($1.69) EPS. Analysts expect that Beam Therapeutics Inc. will post -4.4 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Cutler Group LP boosted its stake in shares of Beam Therapeutics by 825.0% in the 1st quarter. Cutler Group LP now owns 925 shares of the company’s stock worth $53,000 after buying an additional 825 shares during the last quarter. Norges Bank purchased a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $22,526,000. BlackRock Inc. boosted its stake in shares of Beam Therapeutics by 15.4% in the 4th quarter. BlackRock Inc. now owns 4,062,794 shares of the company’s stock worth $323,764,000 after buying an additional 542,819 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $411,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Beam Therapeutics by 20.7% in the 4th quarter. Wells Fargo & Company MN now owns 66,123 shares of the company’s stock worth $5,269,000 after buying an additional 11,336 shares during the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.

BEAM has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on Beam Therapeutics in a report on Wednesday, January 5th. They set a “buy” rating and a $130.00 price target for the company. SVB Leerink increased their price target on Beam Therapeutics from $116.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, January 10th. Finally, Wedbush decreased their price target on Beam Therapeutics from $159.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Beam Therapeutics has a consensus rating of “Buy” and a consensus price target of $126.33.

About Beam Therapeutics (Get Rating)

Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.

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