Christine Bellon Sells 18,629 Shares of Beam Therapeutics (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Christine Bellon sold 18,629 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $34.61, for a total transaction of $644,749.69. Following the transaction, the insider owned 97,038 shares of the company’s stock, valued at $3,358,485.18. The trade was a 16.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Beam Therapeutics Price Performance

BEAM stock traded down $0.25 during midday trading on Tuesday, hitting $30.97. The company’s stock had a trading volume of 1,602,521 shares, compared to its average volume of 2,244,838. The company’s fifty day moving average price is $26.64 and its 200 day moving average price is $23.45. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $36.44. The stock has a market capitalization of $3.14 billion, a P/E ratio of -6.99 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The company had revenue of $9.70 million during the quarter, compared to the consensus estimate of $12.83 million. During the same quarter in the previous year, the business earned ($1.17) EPS. Beam Therapeutics’s revenue was down 32.2% on a year-over-year basis. Equities analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC bought a new stake in shares of Beam Therapeutics in the fourth quarter valued at about $451,000. DLK Investment Management LLC bought a new position in Beam Therapeutics during the fourth quarter worth about $225,000. Synergy Asset Management LLC raised its stake in Beam Therapeutics by 57.5% in the 4th quarter. Synergy Asset Management LLC now owns 18,826 shares of the company’s stock worth $522,000 after purchasing an additional 6,874 shares in the last quarter. Thrive Wealth Management LLC bought a new stake in Beam Therapeutics in the 4th quarter valued at about $235,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Beam Therapeutics during the 4th quarter worth approximately $279,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BEAM. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Friday, October 10th. Jefferies Financial Group initiated coverage on shares of Beam Therapeutics in a research report on Thursday, October 9th. They issued a “buy” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Wall Street Zen downgraded Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Evercore ISI initiated coverage on Beam Therapeutics in a research report on Monday, November 24th. They issued an “outperform” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.23.

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.