Insider Selling: Beam Therapeutics (NASDAQ:BEAM) Insider Sells $1,172,024.64 in Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Fmr Llc sold 33,372 shares of the company’s stock in a transaction on 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 transaction, the insider owned 1,106,071 shares of the company’s stock, valued at approximately $38,845,213.52. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $8,867,466.88.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM opened at $33.48 on Thursday. 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 company has a market cap of $3.44 billion, a P/E ratio of -49.23 and a beta of 2.18. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $36.88. The company has a 50-day moving average price of $30.93 and a 200 day moving average price of $28.82.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.12. The company had revenue of $31.74 million for 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%.The firm’s quarterly revenue was up 323.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.23) EPS. Research analysts predict that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on BEAM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Monday, April 20th. Tudor Pickering set a $39.00 target price on shares of Beam Therapeutics in a research report on Wednesday, May 13th. Citigroup increased their target price on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Sanford C. Bernstein decreased their price target on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research note on Thursday, May 21st. One equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BEAM. Hollencrest Capital Management acquired a new stake in shares of Beam Therapeutics in the first quarter worth approximately $43,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Beam Therapeutics during the fourth quarter worth approximately $47,000. Larson Financial Group LLC increased its position in shares of Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after acquiring an additional 1,923 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Beam Therapeutics in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

About Beam Therapeutics

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.