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

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Fmr Llc sold 33,372 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $35.12, for a total transaction of $1,172,024.64. Following the completion of the transaction, the insider directly owned 1,106,071 shares of the company’s stock, valued at $38,845,213.52. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 value of $8,867,466.88.

Beam Therapeutics Stock Down 1.8%

NASDAQ BEAM opened at $34.32 on Wednesday. Beam Therapeutics Inc. has a 1-year low of $15.60 and a 1-year high of $36.88. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -50.47 and a beta of 2.25. The stock’s 50 day moving average is $30.88 and its two-hundred day moving average is $28.78. The company has a current ratio of 16.99, a quick ratio of 16.99 and a debt-to-equity ratio of 0.09.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BEAM. Jones Financial Companies Lllp lifted its position in Beam Therapeutics by 55,780.0% during the 1st quarter. Jones Financial Companies Lllp now owns 33,528 shares of the company’s stock worth $655,000 after buying an additional 33,468 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Beam Therapeutics by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 438,529 shares of the company’s stock worth $8,564,000 after acquiring an additional 42,609 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Beam Therapeutics in the 2nd quarter valued at about $201,000. New York State Common Retirement Fund increased its position in Beam Therapeutics by 17.7% in the 2nd quarter. New York State Common Retirement Fund now owns 30,629 shares of the company’s stock valued at $521,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Beam Therapeutics by 46.0% in the second quarter. Invesco Ltd. now owns 128,874 shares of the company’s stock worth $2,192,000 after acquiring an additional 40,583 shares during the last quarter. 99.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BEAM. 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 research note on Wednesday, May 13th. Citigroup boosted their target price on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Thursday, May 21st. Finally, Tudor Pickering set a $39.00 price target on shares of 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

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.