Beam Therapeutics (NASDAQ:BEAM) Stock: Insider John Evans Sells 25,000 Shares

Key Points

• CEO John Evans sold 25,000 Beam Therapeutics shares at an average price of $23.57, generating $589,250 and reducing his stake by 2.33% to 1,047,205 shares.
• BEAM shares fell 5.1% to $23.47, trading below both their 50-day and 200-day moving averages. The company also reported a quarterly EPS loss of $1.18 and revenue of $0.49 million, well below analyst expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $50.10, while institutional investors own 99.68% of the stock.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) CEO John Evans sold 25,000 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares in the company, valued at approximately $24,682,621.85. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Beam Therapeutics Stock Down 5.1%

BEAM stock traded down $1.26 during mid-day trading on Friday, reaching $23.47. The company had a trading volume of 1,645,639 shares, compared to its average volume of 1,833,477. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. Beam Therapeutics Inc. has a one year low of $20.23 and a one year high of $38.26. The stock's 50-day simple moving average is $26.30 and its two-hundred day simple moving average is $28.58.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%. The firm had revenue of $0.49 million for the quarter, compared to the consensus estimate of $16.37 million. During the same quarter in the prior year, the company posted ($1.00) EPS. The firm's revenue was down 94.2% on a year-over-year basis. On average, sell-side analysts predict that Beam Therapeutics Inc. will post -4.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on BEAM shares. Weiss Ratings restated a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Thursday. Bank of America reaffirmed a "buy" rating and set a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. Wedbush reaffirmed an "outperform" rating and set a $65.00 price target on shares of Beam Therapeutics in a report on Wednesday. Wall Street Zen upgraded Beam Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 3rd. Finally, William Blair upgraded Beam Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $50.10.

Institutional Trading of Beam Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Beam Therapeutics during the 2nd quarter valued at $308,796,000. ARCH Venture Management LLC bought a new stake in shares of Beam Therapeutics during the 2nd quarter worth $155,771,929. Dimensional Fund Advisors LP boosted its stake in shares of Beam Therapeutics by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company's stock worth $51,327,000 after acquiring an additional 206,696 shares in the last quarter. MWG Caph Ltd bought a new stake in shares of Beam Therapeutics during the 4th quarter worth $35,119,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Beam Therapeutics in the 1st quarter worth $34,467,000. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Company Profile

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines using base editing, a technology designed to make targeted changes to DNA without cutting both strands of the DNA double helix. The company's platform is intended to address diseases caused by specific genetic mutations and to support the development of potentially durable treatments.

Beam's research and development activities focus on areas including hematology, liver diseases and genetic disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.