AlphaQuest LLC Has $65,000 Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

AlphaQuest LLC lowered its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 92.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,610 shares of the company's stock after selling 33,583 shares during the quarter. AlphaQuest LLC's holdings in Beam Therapeutics were worth $65,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vestmark Advisory Solutions Inc. grew its stake in shares of Beam Therapeutics by 29.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 173,152 shares of the company's stock valued at $4,482,000 after acquiring an additional 39,250 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Beam Therapeutics in the fourth quarter valued at about $703,000. Proficio Capital Partners LLC acquired a new position in shares of Beam Therapeutics in the fourth quarter valued at about $406,000. Atria Investments Inc grew its stake in shares of Beam Therapeutics by 17.1% in the fourth quarter. Atria Investments Inc now owns 9,562 shares of the company's stock valued at $237,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Beam Therapeutics by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,945 shares of the company's stock valued at $16,094,000 after acquiring an additional 19,453 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Scotiabank upgraded 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 research note on Monday, March 10th. Wedbush reaffirmed an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Jones Trading raised shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada upped their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $50.82.

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Beam Therapeutics Stock Up 1.9 %

Shares of BEAM stock traded up $0.43 on Friday, reaching $23.30. The company had a trading volume of 2,507,420 shares, compared to its average volume of 1,219,904. The stock has a market capitalization of $2.32 billion, a PE ratio of -13.24 and a beta of 1.91. Beam Therapeutics Inc. has a one year low of $20.84 and a one year high of $35.25. The business's 50-day moving average is $26.76 and its 200 day moving average is $25.92.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping analysts' consensus estimates of ($1.25) by $0.16. The firm had revenue of $30.00 million during the quarter, compared to analysts' expectations of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business's revenue for the quarter was down 90.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 908,659 shares in the company, valued at $24,306,628.25. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Bellon sold 1,241 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the transaction, the insider now owns 102,968 shares of the company's stock, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Beam Therapeutics 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.