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 firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider owned 85,696 shares of the company’s stock, valued at $2,205,815.04. This trade represents a 16.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Beam Therapeutics Trading Down 1.0%

Beam Therapeutics stock opened at $26.02 on Thursday. The stock has a 50-day simple moving average of $31.10 and a 200 day simple moving average of $29.22. The stock has a market capitalization of $2.68 billion, a P/E ratio of -38.26 and a beta of 2.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $38.26.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The firm had revenue of $31.74 million for the quarter, compared to analyst estimates of $10.98 million. During the same quarter in the prior year, the company earned ($1.23) earnings per share. The business’s revenue for the quarter was up 323.2% compared to the same quarter last year. Analysts expect that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEAM. CWM LLC increased its position in Beam Therapeutics by 15.4% during the 4th quarter. CWM LLC now owns 2,466 shares of the company’s stock worth $68,000 after buying an additional 329 shares during the period. Wealth Effects LLC boosted its position in shares of Beam Therapeutics by 4.3% in the fourth quarter. Wealth Effects LLC now owns 9,600 shares of the company’s stock valued at $266,000 after acquiring an additional 400 shares during the period. Franklin Resources Inc. boosted its position in shares of Beam Therapeutics by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 21,948 shares of the company’s stock valued at $608,000 after acquiring an additional 566 shares during the period. Van ECK Associates Corp grew its stake 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 valued at $52,000 after acquiring an additional 707 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Beam Therapeutics by 7.8% in the fourth quarter. Stifel Financial Corp now owns 13,405 shares of the company’s stock valued at $372,000 after acquiring an additional 965 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.