Beam Therapeutics (NASDAQ:BEAM) Insider Christine Bellon Sells 18,629 Shares of Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 18,629 shares of Beam Therapeutics stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $34.61, for a total value of $644,749.69. Following the transaction, the insider directly owned 97,038 shares in the company, valued at approximately $3,358,485.18. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Beam Therapeutics Trading Down 0.8%

Shares of NASDAQ BEAM opened at $30.97 on Wednesday. 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 moving average of $26.81 and a two-hundred day moving average of $23.53. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -6.99 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The business had revenue of $9.70 million during the quarter, compared to the consensus estimate of $12.83 million. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. The firm’s revenue for the quarter was down 32.2% compared to the same quarter last year. As a group, research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in Beam Therapeutics by 7,080.0% in the 2nd quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after buying an additional 2,478 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Beam Therapeutics by 4,370.5% in 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 last quarter. Van ECK Associates Corp raised its holdings in shares of Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Beam Therapeutics by 1,248.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock worth $65,000 after acquiring an additional 3,534 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Beam Therapeutics by 43.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Friday, October 10th. Evercore ISI started coverage on Beam Therapeutics in a report on Monday, November 24th. They set an “outperform” rating and a $35.00 price objective on the stock. Wall Street Zen lowered shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, Jefferies Financial Group began coverage on shares of Beam Therapeutics in a research report on Thursday, October 9th. They issued a “buy” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

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.