1 week Ago By ABMN Staff
ExodusPoint Capital Management LP purchased a new stake in shares of Beam Therapeutics Inc. ( NASDAQ:BEAM – Free Report ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,359 shares of the company’s stock, valued at approximately $331,000.
Several other hedge funds and other institutional investors also recently modified their holdings of BEAM. Verition Fund Management LLC bought a new stake in Beam Therapeutics during the third quarter valued at approximately $368,000. Stifel Financial Corp bought a new stake in shares of Beam Therapeutics during the 3rd quarter worth $262,000.
State Street Corp grew its position in Beam Therapeutics by 12.5% in the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after acquiring an additional 437,402 shares in the last quarter.
Geode Capital Management LLC increased its stake in Beam Therapeutics by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock valued at $44,297,000 after acquiring an additional 78,102 shares during the last quarter.
Finally, Franklin Resources Inc. purchased a new stake in Beam Therapeutics during the third quarter valued at about $400,000. Hedge funds and other institutional investors own 99.
68% of the company’s stock. Wall Street Analyst Weigh In Several brokerages have recently commented on BEAM. Jones Trading upgraded 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. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th.
Royal Bank of Canada boosted their price objective 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.
Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Finally, Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th.
Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Beam Therapeutics currently has an average rating of “Buy” and an average price target of $49.
45. Insiders Place Their Bets In related news, insider Christine Bellon sold 5,674 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.
35, for a total transaction of $104,117.90. Following the completion of the transaction, the insider now owns 117,294 shares of the company’s stock, valued at $2,152,344.
90. This trade represents a 4.61 % decrease in their position.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, President Giuseppe Ciaramella sold 7,434 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.
35, for a total value of $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares in the company, valued at $3,490,463.
60. This trade represents a 3.76 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Over the last 90 days, insiders sold 73,771 shares of company stock worth $1,605,698. 4.
20% of the stock is owned by corporate insiders. Beam Therapeutics Stock Up 5.7 % Shares of Beam Therapeutics stock opened at $15.
47 on Friday. The business has a 50 day moving average of $24.37 and a 200 day moving average of $25.
13. Beam Therapeutics Inc. has a 52 week low of $13.
53 and a 52 week high of $35.25. The company has a market cap of $1.
54 billion, a PE ratio of -8.79 and a beta of 2.02.
Beam Therapeutics ( NASDAQ:BEAM – Get Free Report ) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.
25) by $0.16. The firm had revenue of $30.
00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.
22% and a negative net margin of 41.07%. The business’s revenue for the quarter was down 90.
5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 EPS.
On average, research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.
Beam Therapeutics Profile ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding BEAM? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Beam Therapeutics Inc. ( NASDAQ:BEAM – Free Report ). Receive News & Ratings for Beam Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beam Therapeutics and related companies with MarketBeat.
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