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 the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $23.57, for a total value of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at approximately $24,682,621.85. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Beam Therapeutics Stock Performance

Shares of NASDAQ:BEAM traded down $1.26 during trading on Friday, hitting $23.47. The company’s stock had a trading volume of 1,645,639 shares, compared to its average volume of 1,833,477. The company has a 50-day moving average of $26.30 and a 200-day moving average of $28.58. Beam Therapeutics Inc. has a 12 month low of $20.23 and a 12 month high of $38.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 14.57. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -27.29 and a beta of 2.20.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $16.37 million. During the same period in the prior year, the company posted ($1.00) earnings per share. The firm’s quarterly revenue was down 94.2% on a year-over-year basis. On average, sell-side analysts expect that Beam Therapeutics Inc. will post -4.49 earnings per share for the current year.

Institutional Investors Weigh In On Beam Therapeutics

A number of institutional investors have recently bought and sold shares of BEAM. Versant Capital Management Inc increased its stake in Beam Therapeutics by 123.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,239 shares of the company’s stock worth $30,000 after buying an additional 685 shares in the last quarter. Nykredit A S purchased a new position in shares of Beam Therapeutics in the second quarter valued at about $75,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Beam Therapeutics in the second quarter worth about $1,309,000. Concurrent Investment Advisors LLC boosted its stake in shares of Beam Therapeutics by 448.7% in the second quarter. Concurrent Investment Advisors LLC now owns 63,879 shares of the company’s stock worth $2,192,000 after acquiring an additional 52,238 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Beam Therapeutics in the 2nd quarter worth approximately $535,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BEAM. Bank of America restated a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Wall Street Zen raised Beam Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Beam Therapeutics in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Thursday. Finally, William Blair raised Beam Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.10.

About Beam Therapeutics

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines using base editing, a technology designed to make targeted changes to DNA without cutting both strands of the DNA double helix. The company’s platform is intended to address diseases caused by specific genetic mutations and to support the development of potentially durable treatments.

Beam’s research and development activities focus on areas including hematology, liver diseases and genetic disorders.