Fmr Llc Sells 251,488 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the sale, the insider directly owned 854,583 shares in the company, valued at approximately $30,132,596.58. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, June 25th, Fmr Llc sold 33,372 shares of Beam Therapeutics stock. The stock was sold at an average price of $35.12, for a total value of $1,172,024.64.

Beam Therapeutics Trading Up 0.4%

BEAM traded up $0.15 during trading on Monday, hitting $34.96. The company’s stock had a trading volume of 1,957,098 shares, compared to its average volume of 2,084,441. Beam Therapeutics Inc. has a twelve month low of $15.60 and a twelve 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 stock’s fifty day moving average price is $30.73 and its 200-day moving average price is $28.67. The firm has a market capitalization of $3.60 billion, a P/E ratio of -51.41 and a beta of 2.25.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.12. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The company had revenue of $31.74 million during the quarter, compared to the consensus estimate of $10.98 million. During the same quarter last year, the firm posted ($1.23) EPS. The company’s quarterly revenue was up 323.2% on a year-over-year basis. Analysts anticipate that Beam Therapeutics Inc. will post -4.16 EPS for the current year.

Hedge Funds Weigh In On Beam Therapeutics

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Beam Therapeutics by 139.4% in the 4th quarter. SG Americas Securities LLC now owns 103,469 shares of the company’s stock valued at $2,868,000 after acquiring an additional 60,249 shares during the period. Farallon Capital Management LLC increased its stake in shares of Beam Therapeutics by 0.5% in the third quarter. Farallon Capital Management LLC now owns 10,063,111 shares of the company’s stock worth $244,232,000 after purchasing an additional 50,000 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Beam Therapeutics in the fourth quarter worth about $2,130,000. Contrarius Group Holdings Ltd bought a new stake in shares of Beam Therapeutics in the third quarter valued at approximately $37,212,000. Finally, Casdin Capital LLC lifted its stake in shares of Beam Therapeutics by 10.3% during the 3rd quarter. Casdin Capital LLC now owns 1,600,000 shares of the company’s stock valued at $38,832,000 after buying an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

BEAM has been the topic of a number of research reports. Citigroup upped their target price on Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a report on Wednesday, May 13th. Sanford C. Bernstein lowered their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Beam Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target 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.