Beam Therapeutics (NASDAQ:BEAM) Insider Fmr Llc Sells 251,488 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88. Following the transaction, the insider directly owned 854,583 shares of the company’s stock, valued at $30,132,596.58. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Fmr Llc also recently made the following trade(s):

• On Thursday, June 25th, Fmr Llc sold 33,372 shares of Beam Therapeutics stock. The shares were sold at an average price of $35.12, for a total value of $1,172,024.64.

Beam Therapeutics Trading Up 0.4%

NASDAQ BEAM opened at $34.95 on Tuesday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -51.40 and a beta of 2.25. The stock’s 50 day moving average price is $30.82 and its two-hundred day moving average price is $28.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $36.88.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The firm had revenue of $31.74 million during the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the prior year, the firm posted ($1.23) EPS. The business’s revenue was up 323.2% on a year-over-year basis. As a group, analysts anticipate that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BEAM shares. Citigroup boosted their price target on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Thursday, May 21st. Sanford C. Bernstein dropped their target price on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Monday, April 20th. Finally, Tudor Pickering set a $39.00 price target on Beam Therapeutics in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Beam Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $46.83.

Institutional Trading of Beam Therapeutics

A number of large investors have recently added to or reduced their stakes in BEAM. Hollencrest Capital Management acquired a new position in shares of Beam Therapeutics during the 1st quarter worth about $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Beam Therapeutics in the 4th quarter valued at about $47,000. Larson Financial Group LLC lifted its stake in Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares during the last quarter. Van ECK Associates Corp grew its holdings in Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Beam Therapeutics during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

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.