Vestmark Advisory Solutions Inc. Makes New Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

Vestmark Advisory Solutions Inc. bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 98,215 shares of the company’s stock, valued at approximately $2,673,000. Vestmark Advisory Solutions Inc. owned about 0.12% of Beam Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in Beam Therapeutics by 163.7% in the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after acquiring an additional 686 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Beam Therapeutics by 125.9% in the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after purchasing an additional 554 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Beam Therapeutics by 84.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $55,000 after buying an additional 1,037 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Beam Therapeutics by 4,605.3% during the 3rd quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after buying an additional 2,625 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Beam Therapeutics by 70.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock worth $80,000 after acquiring an additional 1,364 shares during the period. 99.68% of the stock is currently owned by institutional investors.

Insider Activity at Beam Therapeutics

In other news, insider Fmr Llc sold 1,565 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $30.76, for a total value of $48,139.40. Following the transaction, the insider now owns 2,771,913 shares in the company, valued at $85,264,043.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John M. Evans sold 60,000 shares of the business’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 owns 998,262 shares in the company, valued at approximately $33,801,151.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Fmr Llc sold 1,565 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total value of $48,139.40. Following the completion of the sale, the insider now owns 2,771,913 shares of the company’s stock, valued at approximately $85,264,043.88. The disclosure for this sale can be found here. Insiders sold 96,804 shares of company stock worth $3,211,869 in the last ninety days. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on BEAM. TheStreet raised Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Barclays raised their price objective on shares of Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $38.00 to $40.00 in a report on Monday, January 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Wednesday, March 27th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.00.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock traded up $0.41 during trading on Friday, reaching $23.13. The company’s stock had a trading volume of 1,226,247 shares, compared to its average volume of 1,664,112. The firm’s 50-day moving average is $30.98 and its two-hundred day moving average is $28.08. Beam Therapeutics Inc. has a 52-week low of $16.95 and a 52-week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $2.42. The business had revenue of $316.20 million during the quarter, compared to analyst estimates of $34.16 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The company’s revenue was up 1481.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.54) earnings per share. Equities research analysts expect that Beam Therapeutics Inc. will post -5.53 EPS for the current year.

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.