Amy Simon Sells 6,700 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock
by Tristan Rich · The Markets DailyBeam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) insider Amy Simon sold 6,700 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total transaction of $164,686.00. Following the completion of the sale, the insider owned 102,735 shares of the company’s stock, valued at $2,525,226.30. This trade represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.
Beam Therapeutics Stock Down 1.7%
Shares of BEAM traded down $0.43 during mid-day trading on Monday, hitting $24.23. 1,298,322 shares of the company’s stock were exchanged, compared to its average volume of 1,988,365. The firm has a fifty day moving average of $26.65 and a two-hundred day moving average of $26.43. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $36.44. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -23.99 and a beta of 2.18.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $3.46. The business had revenue of $114.11 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 280.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.09) EPS. On average, equities analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.
Institutional Trading of Beam Therapeutics
A number of hedge funds have recently bought and sold shares of BEAM. Squarepoint Ops LLC grew its position in Beam Therapeutics by 468.3% in the 2nd quarter. Squarepoint Ops LLC now owns 138,765 shares of the company’s stock worth $2,360,000 after purchasing an additional 114,349 shares during the last quarter. Privium Fund Management B.V. acquired a new position in shares of Beam Therapeutics during the third quarter valued at about $1,480,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Beam Therapeutics in the third quarter valued at about $1,059,000. SG Americas Securities LLC lifted its stake in shares of Beam Therapeutics by 498.9% in the third quarter. SG Americas Securities LLC now owns 43,220 shares of the company’s stock valued at $1,049,000 after buying an additional 36,004 shares during the period. Finally, Farallon Capital Management LLC grew its position in Beam Therapeutics by 0.5% during the third quarter. Farallon Capital Management LLC now owns 10,063,111 shares of the company’s stock worth $244,232,000 after buying an additional 50,000 shares in the last quarter. 99.68% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on BEAM shares. Canaccord Genuity Group began coverage on shares of Beam Therapeutics in a research report on Friday, February 20th. They set a “buy” rating and a $74.00 target price for the company. Citigroup lifted their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Royal Bank Of Canada boosted their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Tudor Pickering set a $41.00 target price on Beam Therapeutics in a research note on Wednesday, January 21st. Finally, Wedbush raised their target price on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.36.
Check Out Our Latest Analysis on Beam Therapeutics
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.