Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) insider Giuseppe Ciaramella sold 1,918 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $30.31, for a total value of $58,134.58. Following the sale, the insider now owns 114,044 shares in the company, valued at approximately $3,456,673.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Beam Therapeutics Stock Performance
Shares of NASDAQ BEAM opened at $29.74 on Friday. The stock has a fifty day moving average price of $37.49 and a two-hundred day moving average price of $42.15. The firm has a market cap of $2.15 billion, a P/E ratio of -7.20 and a beta of 1.63. Beam Therapeutics Inc. has a 1 year low of $27.77 and a 1 year high of $73.27.
Beam Therapeutics (NASDAQ:BEAM – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.80. The company had revenue of $20.04 million during the quarter, compared to analyst estimates of $12.73 million. Beam Therapeutics had a negative return on equity of 37.58% and a negative net margin of 474.54%. The company’s revenue for the quarter was down 60.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) earnings per share. On average, research analysts predict that Beam Therapeutics Inc. will post -5.54 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beam Therapeutics
Analyst Upgrades and Downgrades
BEAM has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Beam Therapeutics in a research report on Tuesday, January 31st. They issued an “overweight” rating and a $62.00 target price for the company. SVB Leerink cut their target price on Beam Therapeutics from $81.00 to $77.00 and set an “outperform” rating for the company in a research note on Monday, January 23rd. Citigroup started coverage on Beam Therapeutics in a research note on Tuesday, December 13th. They set a “buy” rating and a $62.00 target price for the company. Wells Fargo & Company reduced their price objective on Beam Therapeutics from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, March 1st. Finally, Sanford C. Bernstein assumed coverage on Beam Therapeutics in a report on Tuesday, March 21st. They set a “market perform” rating and a $37.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Beam Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.
About Beam Therapeutics
Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.
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