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 Beam Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total value of $1,347,259.60. Following the completion of the transaction, the president now owns 109,150 shares of the company’s stock, valued at $2,877,194. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Giuseppe Ciaramella also recently made the following trade(s):

• On Monday, October 14th, Giuseppe Ciaramella sold 51,110 shares of Beam Therapeutics stock. The stock was sold at an average price of $26.27, for a total value of $1,342,659.70.

Beam Therapeutics Stock Up 3.7 %

Shares of NASDAQ BEAM opened at $27.06 on Friday. The firm’s 50-day simple moving average is $24.23 and its 200 day simple moving average is $24.67. The stock has a market cap of $2.23 billion, a P/E ratio of -14.95 and a beta of 1.86. Beam Therapeutics Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The company had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.52 million. During the same period in the prior year, the company posted ($1.22) earnings per share. The company’s revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of Beam Therapeutics in the second quarter valued at $26,000. Blue Trust Inc. lifted its holdings in Beam Therapeutics by 2,648.4% in the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after acquiring an additional 1,642 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Beam Therapeutics by 200.0% during the 2nd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Beam Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after purchasing an additional 524 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Beam Therapeutics by 350.0% in the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares in the last quarter. 99.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BEAM. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Barclays decreased their target price on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday. Scotiabank began coverage on Beam Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 price objective for the company. Finally, Leerink Partners raised Beam Therapeutics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $27.00 to $39.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.91.

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.