Beam Therapeutics (NASDAQ:BEAM – Get Free Report) released its earnings results on Tuesday. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.21, Briefing.com reports. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The company had revenue of $7.40 million during the quarter, compared to analyst estimates of $17.09 million. During the same period in the prior year, the company posted ($1.33) earnings per share. Beam Therapeutics’s quarterly revenue was down 69.4% on a year-over-year basis.
Beam Therapeutics Trading Down 1.1 %
BEAM opened at $22.53 on Wednesday. The stock has a market capitalization of $1.85 billion, a P/E ratio of -11.86 and a beta of 1.88. The stock has a 50-day moving average price of $30.27 and a 200-day moving average price of $28.20. Beam Therapeutics has a 12-month low of $16.95 and a 12-month high of $49.50.
Insider Activity at Beam Therapeutics
In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the transaction, the chief executive officer now directly owns 998,262 shares in the company, valued at $33,801,151.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the transaction, the chief executive officer now directly owns 998,262 shares of the company’s stock, valued at $33,801,151.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John M. Evans sold 18,102 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $32.13, for a total value of $581,617.26. Following the sale, the chief executive officer now owns 1,058,343 shares of the company’s stock, valued at $34,004,560.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,804 shares of company stock valued at $3,211,869. Corporate insiders own 4.20% of the company’s stock.
Analyst Upgrades and Downgrades
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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.
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