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

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 5,956 shares of Beam Therapeutics stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $34.00, for a total value of $46,614.00.
• 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

NASDAQ BEAM opened at $24.23 on Tuesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -23.99 and a beta of 2.18. Beam Therapeutics Inc. has a one year low of $13.52 and a one year high of $36.44. The business’s fifty day moving average is $26.51 and its 200-day moving average is $26.43.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $3.46. The company had revenue of $114.11 million for the quarter, compared to analysts’ expectations 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 was up 280.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.09) EPS. Research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BEAM. Jones Financial Companies Lllp raised its holdings in Beam Therapeutics by 55,780.0% during the 1st quarter. Jones Financial Companies Lllp now owns 33,528 shares of the company’s stock valued at $655,000 after acquiring an additional 33,468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Beam Therapeutics by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 438,529 shares of the company’s stock valued at $8,564,000 after acquiring an additional 42,609 shares during the period. Legal & General Group Plc raised its holdings in Beam Therapeutics by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 102,646 shares of the company’s stock valued at $1,746,000 after acquiring an additional 8,023 shares during the period. Rhumbline Advisers raised its holdings in Beam Therapeutics by 7.2% during the 2nd quarter. Rhumbline Advisers now owns 151,372 shares of the company’s stock valued at $2,575,000 after acquiring an additional 10,168 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Beam Therapeutics during the second quarter valued at about $201,000. Institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group assumed coverage on shares of Beam Therapeutics in a report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price target on the stock. Citigroup boosted their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Sanford C. Bernstein boosted their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Canaccord Genuity Group started coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a “buy” rating and a $74.00 price objective on the stock. Finally, Wedbush boosted their price objective on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.36.

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.