16,368 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,368 shares of the company's stock, valued at approximately $406,000.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV boosted its stake in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock valued at $103,000 after purchasing an additional 2,104 shares during the period. Blue Trust Inc. lifted its holdings in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. GAMMA Investing LLC increased its holdings in Beam Therapeutics by 23.9% during the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock valued at $142,000 after purchasing an additional 1,102 shares in the last quarter. Quarry LP raised its holdings in shares of Beam Therapeutics by 66.7% in the third quarter. Quarry LP now owns 6,000 shares of the company's stock valued at $147,000 after buying an additional 2,400 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Beam Therapeutics during the third quarter worth approximately $200,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Beam Therapeutics

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

Analyst Ratings Changes

A number of equities research analysts recently commented on BEAM shares. Bank of America upgraded Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a report on Friday. Wedbush restated an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a report on Monday, March 10th. Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 target price for the company in a research note on Monday, March 10th. Royal Bank of Canada increased their price target on Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 26th. Finally, Jones Trading raised Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $49.45.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM traded up $0.02 during mid-day trading on Friday, hitting $22.21. The stock had a trading volume of 2,373,434 shares, compared to its average volume of 1,282,882. The firm has a market cap of $2.22 billion, a P/E ratio of -12.62 and a beta of 1.91. The business has a 50 day moving average price of $26.67 and a two-hundred day moving average price of $25.87. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. During the same period last year, the business earned $1.73 earnings per share. The business's revenue was down 90.5% on a year-over-year basis. Equities research analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

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.