1,637 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,637 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Beam Therapeutics in the 4th quarter valued at $330,000. Charles Schwab Investment Management Inc. boosted its holdings in Beam Therapeutics by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 629,492 shares of the company’s stock valued at $15,423,000 after purchasing an additional 36,226 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Beam Therapeutics by 11.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock valued at $98,149,000 after purchasing an additional 404,782 shares during the period. Bellevue Group AG boosted its holdings in Beam Therapeutics by 7.1% in the 3rd quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock valued at $37,194,000 after purchasing an additional 100,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Beam Therapeutics by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock valued at $44,297,000 after purchasing an additional 78,102 shares during the period. 99.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction 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. The trade was a 3.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BEAM shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Guggenheim restated a “buy” rating and set a $78.00 price objective on shares of Beam Therapeutics in a research report on Thursday, February 27th. Jones Trading upgraded shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Monday, March 10th. Finally, Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $50.82.

Beam Therapeutics Stock Down 7.9 %

Shares of NASDAQ:BEAM opened at $22.59 on Wednesday. The stock has a market cap of $2.25 billion, a PE ratio of -12.84 and a beta of 1.91. The company’s fifty day moving average is $26.96 and its 200 day moving average is $25.97. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $36.75.

Beam Therapeutics (NASDAQ:BEAM) last issued 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 company had revenue of $30.00 million for 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 firm’s revenue was down 90.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. Sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

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.