Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella Sells 4,534 Shares of Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella sold 4,534 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the transaction, the president now owns 169,616 shares in the company, valued at $5,448,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $29.68 on Thursday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -15.62 and a beta of 1.77. Beam Therapeutics Inc. has a one year low of $16.95 and a one year high of $49.50. The stock’s fifty day moving average is $32.97 and its 200-day moving average is $27.82.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $2.42. The company had revenue of $316.20 million for the quarter, compared to analyst estimates of $34.16 million. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The company’s quarterly revenue was up 1481.0% compared to the same quarter last year. During the same period last year, the company earned ($0.54) earnings per share. Analysts forecast that Beam Therapeutics Inc. will post -5.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ARK Investment Management LLC boosted its stake in Beam Therapeutics by 6.9% during the fourth quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company’s stock valued at $255,702,000 after buying an additional 609,998 shares in the last quarter. Swiss National Bank boosted its stake in Beam Therapeutics by 12.9% during the third quarter. Swiss National Bank now owns 142,400 shares of the company’s stock valued at $3,425,000 after buying an additional 16,300 shares in the last quarter. Citigroup Inc. boosted its stake in Beam Therapeutics by 21.5% during the third quarter. Citigroup Inc. now owns 197,597 shares of the company’s stock valued at $4,752,000 after buying an additional 34,943 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Beam Therapeutics by 41.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 106,269 shares of the company’s stock valued at $2,556,000 after buying an additional 31,165 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Beam Therapeutics by 31.8% during the third quarter. Rafferty Asset Management LLC now owns 340,141 shares of the company’s stock valued at $8,180,000 after buying an additional 82,150 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $57.00 price objective (up from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised Beam Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $40.00 in a research report on Monday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a research report on Wednesday, March 27th. Barclays increased their target price on Beam Therapeutics from $26.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 target price (down from $75.00) on shares of Beam Therapeutics in a research report on Friday, December 8th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Beam Therapeutics presently has an average rating of “Hold” and an average price target of $41.00.

About Beam Therapeutics

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.