Christine Bellon Sells 1,371 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 1,371 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $34.00, for a total transaction of $46,614.00. Following the sale, the insider directly owned 95,667 shares of the company’s stock, valued at $3,252,678. This represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, January 15th, Christine Bellon sold 18,629 shares of Beam Therapeutics stock. The stock was sold at an average price of $34.61, for a total value of $644,749.69.

Beam Therapeutics Price Performance

Shares of BEAM stock opened at $30.70 on Wednesday. Beam Therapeutics Inc. has a one year low of $13.52 and a one year high of $36.44. The stock has a market cap of $3.12 billion, a P/E ratio of -6.93 and a beta of 2.07. The company has a fifty day moving average price of $27.80 and a two-hundred day moving average price of $23.91.

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

Analysts Set New Price Targets

Several equities analysts recently commented on BEAM shares. Evercore ISI started coverage on shares of Beam Therapeutics in a research note on Monday, November 24th. They issued an “outperform” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. UBS Group initiated coverage on Beam Therapeutics in a report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price target on the stock. Wall Street Zen lowered Beam Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Finally, Benchmark reissued a “speculative buy” rating on shares of Beam Therapeutics in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beam Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $43.80.

Institutional Trading of Beam Therapeutics

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of 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 in the last quarter. Van ECK Associates Corp increased its holdings in shares of Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after buying an additional 707 shares during the period. CWM LLC grew its position in Beam Therapeutics by 15.4% during the 4th quarter. CWM LLC now owns 2,466 shares of the company’s stock worth $68,000 after acquiring an additional 329 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Beam Therapeutics by 7,080.0% in the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Beam Therapeutics by 1,248.8% in the 2nd 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 during the last quarter. Institutional investors own 99.68% of the company’s stock.

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.