Beam Therapeutics (NASDAQ:BEAM) CEO John Evans Sells 25,000 Shares of Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) CEO John Evans sold 25,000 shares of Beam Therapeutics stock in a transaction on Monday, March 30th. The stock was sold at an average price of $22.37, for a total value of $559,250.00. Following the sale, the chief executive officer owned 986,667 shares of the company’s stock, valued at approximately $22,071,740.79. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Beam Therapeutics Price Performance

BEAM stock opened at $24.66 on Friday. Beam Therapeutics Inc. has a 12 month low of $13.52 and a 12 month high of $36.44. The firm’s 50-day moving average is $26.79 and its 200 day moving average is $26.36. The company has a market capitalization of $2.51 billion, a PE ratio of -24.42 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last issued its 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. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The business had revenue of $114.11 million for the quarter, compared to analyst estimates of $13.22 million. During the same period last year, the company posted ($1.09) earnings per share. The company’s quarterly revenue was up 280.3% compared to the same quarter last year. Sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Beam Therapeutics

A number of large investors have recently made changes to their positions in BEAM. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Beam Therapeutics during the 4th quarter worth approximately $47,000. Larson Financial Group LLC raised its position in shares of Beam Therapeutics by 4,370.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after buying an additional 1,923 shares during the period. Kestra Advisory Services LLC acquired a new position in Beam Therapeutics in the fourth quarter valued at about $59,000. Van ECK Associates Corp lifted its holdings in shares of Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Beam Therapeutics in the fourth quarter valued at approximately $66,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BEAM shares. Sanford C. Bernstein raised their price target on Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Citigroup increased their target price on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their price target on shares of Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group initiated coverage on shares of Beam Therapeutics in a research report on Friday, February 20th. They issued a “buy” rating and a $74.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.36.

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.