Vestmark Advisory Solutions Inc. Boosts Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Vestmark Advisory Solutions Inc. lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,152 shares of the company's stock after purchasing an additional 39,250 shares during the period. Vestmark Advisory Solutions Inc. owned 0.21% of Beam Therapeutics worth $4,482,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Beam Therapeutics during the fourth quarter valued at about $703,000. Proficio Capital Partners LLC bought a new position in Beam Therapeutics in the 4th quarter worth approximately $406,000. Atria Investments Inc grew its stake in Beam Therapeutics by 17.1% in the 4th quarter. Atria Investments Inc now owns 9,562 shares of the company's stock valued at $237,000 after buying an additional 1,395 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Beam Therapeutics by 3.1% during the 4th 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 during the period. Finally, ARK Investment Management LLC lifted its position in shares of Beam Therapeutics by 8.2% during the fourth quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company's stock worth $175,287,000 after acquiring an additional 536,930 shares in the last quarter. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Stock Down 9.8 %

Shares of NASDAQ BEAM traded down $2.79 during mid-day trading on Monday, reaching $25.69. 8,839,857 shares of the company were exchanged, compared to its average volume of 1,186,922. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $38.37. The company's 50 day moving average price is $27.01 and its 200 day moving average price is $26.03. The stock has a market capitalization of $2.15 billion, a PE ratio of -14.60 and a beta of 1.91.

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Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share (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 return on equity of 16.22% and a negative net margin of 41.07%. The company's revenue for the quarter was down 90.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. On average, sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $57.00 price target on shares of Beam Therapeutics in a research report on Monday. Jones Trading upgraded Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research report on Monday. Royal Bank of Canada increased their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday. Finally, Cantor Fitzgerald upgraded shares of Beam Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Beam Therapeutics currently has a consensus rating of "Buy" and an average target price of $50.82.

Insider Buying and Selling

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