Beam Therapeutics (NASDAQ:BEAM) Insider Fmr Llc Sells 33,372 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Fmr Llc sold 33,372 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $35.12, for a total transaction of $1,172,024.64. Following the sale, the insider owned 1,106,071 shares of the company’s stock, valued at $38,845,213.52. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, June 26th, Fmr Llc sold 251,488 shares of Beam Therapeutics stock. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $34.95 on Tuesday. The firm has a market cap of $3.60 billion, a PE ratio of -51.40 and a beta of 2.25. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $36.88. The company has a quick ratio of 16.99, a current ratio of 16.99 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $30.82 and its two-hundred day simple moving average is $28.73.

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

Institutional Investors Weigh In On Beam Therapeutics

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BEAM. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, May 21st. Sanford C. Bernstein dropped their price objective on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. Citigroup boosted their target price on Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Finally, Tudor Pickering set a $39.00 target price on Beam Therapeutics in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

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.