Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $24.60, for a total value of $1,476,000.00. Following the completion of the sale, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Beam Therapeutics Trading Down 2.4 %
Shares of BEAM stock opened at $22.94 on Friday. The firm has a market capitalization of $1.89 billion, a P/E ratio of -12.89 and a beta of 1.86. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The firm’s fifty day simple moving average is $25.66 and its 200 day simple moving average is $25.75.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. During the same quarter in the previous year, the firm posted ($1.08) EPS. The business’s revenue was down 41.3% compared to the same quarter last year. Equities research analysts anticipate that Beam Therapeutics Inc. will post -4.6 EPS for the current fiscal year.
Analysts Set New Price Targets
Check Out Our Latest Report on Beam Therapeutics
Hedge Funds Weigh In On Beam Therapeutics
Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Beam Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 19,431 shares of the company’s stock valued at $455,000 after purchasing an additional 392 shares in the last quarter. American International Group Inc. raised its stake in shares of Beam Therapeutics by 2.0% in the 1st quarter. American International Group Inc. now owns 36,760 shares of the company’s stock valued at $1,215,000 after buying an additional 732 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Beam Therapeutics by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock worth $609,000 after acquiring an additional 789 shares during the period. Riverview Trust Co acquired a new stake in shares of Beam Therapeutics during the 1st quarter valued at about $26,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Beam Therapeutics by 144.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after acquiring an additional 923 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.
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.
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