John M. Evans Sells 30,000 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the sale, the chief executive officer now directly owns 908,659 shares in the company, valued at $24,306,628.25. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Beam Therapeutics Stock Down 0.6 %

BEAM traded down $0.17 during trading on Thursday, hitting $27.65. The company's stock had a trading volume of 1,496,937 shares, compared to its average volume of 1,145,218. The firm has a market capitalization of $2.29 billion, a P/E ratio of -15.71 and a beta of 1.92. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50. The stock's fifty day moving average price is $26.49 and its 200-day moving average price is $25.77.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The company had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.52 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company's revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the firm posted ($1.22) earnings per share. Equities research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BEAM. Leerink Partners upgraded shares of Beam Therapeutics from a "market perform" rating to an "outperform" rating and raised their price target for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded shares of Beam Therapeutics from a "neutral" rating to an "overweight" rating in a report on Wednesday, January 29th. Wedbush restated an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Monday, January 13th. Scotiabank assumed coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $24.00 target price for the company. Finally, Leerink Partnrs upgraded Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $47.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEAM. Blue Trust Inc. increased its holdings in shares of Beam Therapeutics by 84.0% during the third quarter. Blue Trust Inc. now owns 3,135 shares of the company's stock valued at $73,000 after acquiring an additional 1,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Beam Therapeutics by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company's stock worth $75,000 after buying an additional 524 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Beam Therapeutics during the third quarter worth $98,000. KBC Group NV lifted its stake in shares of Beam Therapeutics by 103.2% in the fourth quarter. KBC Group NV now owns 4,143 shares of the company's stock valued at $103,000 after buying an additional 2,104 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Beam Therapeutics by 13.3% during the third quarter. GAMMA Investing LLC now owns 4,620 shares of the company's stock valued at $113,000 after buying an additional 544 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.