Amy Simon Sells 876 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) insider Amy Simon sold 876 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $20.12, for a total value of $17,625.12. Following the completion of the sale, the insider owned 64,864 shares of the company's stock, valued at $1,305,063.68. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Amy Simon also recently made the following trade(s):

• On Tuesday, July 1st, Amy Simon sold 374 shares of Beam Therapeutics stock. The shares were sold at an average price of $16.94, for a total value of $6,335.56.

Beam Therapeutics Trading Up 0.7%

Shares of NASDAQ:BEAM traded up $0.14 during midday trading on Thursday, reaching $20.02. 1,364,708 shares of the company were exchanged, compared to its average volume of 1,507,876. The stock has a market cap of $2.01 billion, a PE ratio of -4.34 and a beta of 2.07. The business's fifty day moving average is $17.63 and its two-hundred day moving average is $22.13. Beam Therapeutics Inc. has a one year low of $13.53 and a one year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 609.24% and a negative return on equity of 44.24%. The company had revenue of $7.47 million for the quarter, compared to the consensus estimate of $14.69 million. During the same period last year, the company earned ($1.21) EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BEAM shares. Guggenheim decreased their price objective on Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price target on the stock in a report on Monday, March 10th. Bank of America upgraded shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research report on Friday, March 28th. Finally, Wedbush restated an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $48.75.

Hedge Funds Weigh In On Beam Therapeutics

Several institutional investors have recently added to or reduced their stakes in BEAM. Wealthfront Advisers LLC purchased a new position in shares of Beam Therapeutics in the fourth quarter valued at $41,000. GF Fund Management CO. LTD. purchased a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $43,000. Sterling Capital Management LLC increased its position in shares of Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after purchasing an additional 2,146 shares during the last quarter. CWM LLC raised its holdings in Beam Therapeutics by 79.8% during the 1st quarter. CWM LLC now owns 2,684 shares of the company's stock valued at $52,000 after buying an additional 1,191 shares during the period. Finally, Amalgamated Bank lifted its position in Beam Therapeutics by 20.4% in the first quarter. Amalgamated Bank now owns 3,153 shares of the company's stock worth $62,000 after buying an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.

About Beam Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.