Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella Sells 51,110 Shares

Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella sold 51,110 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the completion of the transaction, the president now directly owns 160,260 shares of the company’s stock, valued at $4,210,030.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Beam Therapeutics Price Performance

Shares of BEAM opened at $26.69 on Thursday. The company’s fifty day moving average price is $24.84 and its 200-day moving average price is $25.10. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The firm has a market capitalization of $2.20 billion, a PE ratio of -14.99 and a beta of 1.85.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02. The company had revenue of $11.80 million during the quarter, compared to analysts’ expectations of $14.18 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The firm’s revenue was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.08) EPS. As a group, research analysts anticipate that Beam Therapeutics Inc. will post -4.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BEAM shares. Wedbush reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Beam Therapeutics in a report on Thursday, September 19th. Stifel Nicolaus raised their price target on shares of Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank began coverage on shares of Beam Therapeutics in a research note on Wednesday. They set a “sector outperform” rating and a $24.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Institutional Investors Weigh In On Beam Therapeutics

A number of large investors have recently bought and sold shares of BEAM. Riverview Trust Co purchased a new position in Beam Therapeutics during the 1st quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Beam Therapeutics during the second quarter worth $26,000. PNC Financial Services Group Inc. lifted its position in Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after purchasing an additional 923 shares during the period. Blue Trust Inc. lifted its position in Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after purchasing an additional 1,642 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Beam Therapeutics by 200.0% in the second quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock valued at $69,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors 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.