Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) CEO John M. Evans sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.75, for a total value of $1,972,500.00. Following the completion of the transaction, the chief executive officer now owns 1,088,520 shares of the company's stock, valued at approximately $71,570,190. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Beam Therapeutics Trading Down 4.1 %
Beam Therapeutics stock opened at $62.98 on Monday. The stock has a market cap of $4.43 billion, a P/E ratio of -17.45 and a beta of 1.39. The stock has a 50 day moving average of $44.93 and a 200-day moving average of $52.03. Beam Therapeutics Inc. has a 52 week low of $27.77 and a 52 week high of $116.91.
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Beam Therapeutics (NASDAQ:BEAM – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.09. Beam Therapeutics had a negative return on equity of 28.02% and a negative net margin of 395.37%. The firm had revenue of $8.40 million for the quarter, compared to analysts' expectations of $44.15 million. During the same period last year, the business posted ($3.35) earnings per share. The firm's revenue for the quarter was up 139900.0% on a year-over-year basis. As a group, equities analysts predict that Beam Therapeutics Inc. will post -4.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beam Therapeutics
Several large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in Beam Therapeutics by 8.9% during the fourth quarter. CIBC Asset Management Inc now owns 2,741 shares of the company's stock worth $218,000 after purchasing an additional 223 shares during the last quarter. Arizona State Retirement System lifted its stake in Beam Therapeutics by 3.1% during the first quarter. Arizona State Retirement System now owns 9,209 shares of the company's stock worth $528,000 after purchasing an additional 280 shares during the last quarter. TFC Financial Management lifted its stake in Beam Therapeutics by 111.1% during the fourth quarter. TFC Financial Management now owns 570 shares of the company's stock worth $45,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC lifted its stake in Beam Therapeutics by 1.4% during the fourth quarter. ProShare Advisors LLC now owns 21,903 shares of the company's stock worth $1,746,000 after purchasing an additional 304 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Beam Therapeutics by 1.7% during the first quarter. Principal Financial Group Inc. now owns 21,368 shares of the company's stock worth $1,225,000 after purchasing an additional 351 shares during the last quarter. 68.80% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on BEAM. BMO Capital Markets upped their price target on Beam Therapeutics from $41.00 to $61.00 in a report on Monday, July 18th. Credit Suisse Group began coverage on Beam Therapeutics in a report on Thursday, April 28th. They issued a "neutral" rating and a $62.00 price target for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Beam Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $113.71.
Beam Therapeutics Company Profile
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Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.
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