GAMMA Investing LLC Increases Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

GAMMA Investing LLC raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,722 shares of the company’s stock after purchasing an additional 1,102 shares during the quarter. GAMMA Investing LLC’s holdings in Beam Therapeutics were worth $142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BEAM. Fairfield Financial Advisors LTD acquired a new stake in shares of Beam Therapeutics in the second quarter valued at about $26,000. National Bank of Canada FI boosted its holdings in Beam Therapeutics by 200.0% in the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after acquiring an additional 2,000 shares during the period. Blue Trust Inc. grew its position in Beam Therapeutics by 84.0% in the third quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock valued at $73,000 after acquiring an additional 1,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Beam Therapeutics by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock valued at $75,000 after purchasing an additional 524 shares during the period. Finally, Quarry LP lifted its position in shares of Beam Therapeutics by 350.0% during the second quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, December 9th. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded Beam Therapeutics to a “hold” rating in a research note on Tuesday, December 10th. Finally, Scotiabank began coverage on Beam Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 price objective on the stock. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Beam Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $47.67.

Insider Transactions at Beam Therapeutics

In related news, insider Christine Bellon sold 1,241 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 trade represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Giuseppe Ciaramella sold 51,110 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total value of $1,347,259.60. Following the transaction, the president now owns 109,150 shares of the company’s stock, valued at $2,877,194. This represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,461 shares of company stock worth $2,720,547. 4.20% of the stock is currently owned by insiders.

Beam Therapeutics Stock Down 1.0 %

NASDAQ:BEAM opened at $26.80 on Friday. The company has a market cap of $2.22 billion, a PE ratio of -15.23 and a beta of 1.92. The business’s 50 day moving average is $26.55 and its two-hundred day moving average is $25.66. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The firm had revenue of $14.30 million for the quarter, compared to the consensus estimate of $14.52 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 16.9% compared to the same quarter last year. During the same quarter last year, the business earned ($1.22) earnings per share. As a group, sell-side analysts expect that Beam Therapeutics Inc. will post -4.66 EPS for the current fiscal year.

Beam Therapeutics Company 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.