Beam Therapeutics (NASDAQ:BEAM) Insider Amy Simon Sells 16,667 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Amy Simon sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the sale, the insider directly owned 85,696 shares in the company, valued at approximately $2,205,815.04. The trade was a 16.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Beam Therapeutics Stock Down 1.0%

BEAM stock traded down $0.27 during midday trading on Wednesday, hitting $26.02. The company’s stock had a trading volume of 1,564,470 shares, compared to its average volume of 2,140,791. The company has a quick ratio of 16.99, a current ratio of 16.99 and a debt-to-equity ratio of 0.09. Beam Therapeutics Inc. has a 52-week low of $15.60 and a 52-week high of $38.26. The firm has a market capitalization of $2.68 billion, a P/E ratio of -38.26 and a beta of 2.18. The firm has a 50-day simple moving average of $31.12 and a 200-day simple moving average of $29.24.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results 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 business had revenue of $31.74 million during the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the previous year, the firm posted ($1.23) earnings per share. The company’s quarterly revenue was up 323.2% compared to the same quarter last year. As a group, equities analysts forecast that Beam Therapeutics Inc. will post -4.16 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on BEAM shares. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Sanford C. Bernstein reduced their price target on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Bank of America reissued a “buy” rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Finally, Tudor Pickering set a $39.00 target price on shares of Beam Therapeutics in a research note on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.85.

Institutional Investors Weigh In On Beam Therapeutics

Several institutional investors have recently modified their holdings of BEAM. ADAR1 Capital Management LLC acquired a new stake in shares of Beam Therapeutics during the 1st quarter worth about $34,467,000. ARK Investment Management LLC lifted its stake in Beam Therapeutics by 12.9% during the fourth quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company’s stock worth $345,590,000 after purchasing an additional 1,428,355 shares during the last quarter. MWG Caph Ltd acquired a new position in Beam Therapeutics in the fourth quarter valued at approximately $35,119,000. State Street Corp boosted its holdings in Beam Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 5,228,529 shares of the company’s stock valued at $144,935,000 after purchasing an additional 1,219,871 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Beam Therapeutics by 237.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,665,385 shares of the company’s stock valued at $40,419,000 after purchasing an additional 1,171,977 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

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.