Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $24.50, for a total transaction of $1,470,000.00. Following the completion of the sale, the chief executive officer now directly owns 998,343 shares of the company’s stock, valued at approximately $24,459,403.50. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Beam Therapeutics Trading Down 2.3 %
Shares of BEAM opened at $23.43 on Friday. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The firm’s 50-day moving average price is $23.65 and its 200-day moving average price is $27.89. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.16 and a beta of 1.89.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.21. The company had revenue of $7.40 million for the quarter, compared to analyst estimates of $17.09 million. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. The firm’s revenue was down 69.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.33) earnings per share. On average, research analysts forecast that Beam Therapeutics Inc. will post -4.68 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. BMO Capital Markets restated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a report on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday, May 7th. Finally, TheStreet raised Beam Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 11th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Beam Therapeutics has an average rating of “Hold” and a consensus price target of $40.18.
View Our Latest Analysis on BEAM
Beam Therapeutics Company Profile
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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