Giuseppe Ciaramella Sells 51,110 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Price Performance

Beam Therapeutics stock opened at $27.06 on Friday. Beam Therapeutics Inc. has a one year low of $18.85 and a one year high of $49.50. The company’s fifty day moving average price is $24.23 and its two-hundred day moving average price is $24.67. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -14.95 and a beta of 1.86.

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

Institutional Trading of Beam Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of BEAM. ARCH Venture Management LLC acquired a new position in Beam Therapeutics in the 2nd quarter valued at $127,530,000. Farallon Capital Management LLC lifted its position in Beam Therapeutics by 75.4% during the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock worth $185,404,000 after acquiring an additional 3,401,370 shares during the last quarter. Darwin Global Management Ltd. bought a new stake in Beam Therapeutics during the first quarter valued at about $70,032,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Beam Therapeutics by 59.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after purchasing an additional 1,328,414 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Beam Therapeutics by 3,137.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,246,189 shares of the company’s stock worth $41,175,000 after purchasing an additional 1,207,699 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BEAM. Scotiabank began coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 price target on the stock. Barclays lowered their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Leerink Partners raised Beam Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $39.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.