GAMMA Investing LLC Has $113,000 Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

GAMMA Investing LLC boosted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,620 shares of the company’s stock after acquiring an additional 544 shares during the period. GAMMA Investing LLC’s holdings in Beam Therapeutics were worth $113,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Farallon Capital Management LLC increased its position in shares of Beam Therapeutics by 75.4% during the second quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock valued at $185,404,000 after purchasing an additional 3,401,370 shares during the period. Vanguard Group Inc. boosted its stake in Beam Therapeutics by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock worth $250,402,000 after buying an additional 413,892 shares in the last quarter. ARCH Venture Management LLC bought a new stake in Beam Therapeutics in the 2nd quarter valued at $127,530,000. Darwin Global Management Ltd. acquired a new position in shares of Beam Therapeutics in the 1st quarter valued at $70,032,000. Finally, Redmile Group LLC lifted its holdings in shares of Beam Therapeutics by 31.5% during the 1st quarter. Redmile Group LLC now owns 1,879,617 shares of the company’s stock worth $62,103,000 after acquiring an additional 449,834 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the transaction, the chief executive officer now owns 938,659 shares in the company, valued at $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 60,674 shares of company stock worth $1,491,826 over the last 90 days. 4.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BEAM has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price objective on shares of Beam Therapeutics in a research note on Thursday, September 19th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Barclays lowered their price target on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their price objective on Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.18.

Beam Therapeutics Trading Up 7.3 %

BEAM opened at $24.72 on Monday. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The stock has a market capitalization of $2.03 billion, a PE ratio of -13.89 and a beta of 1.85. The firm has a 50-day moving average price of $24.76 and a two-hundred day moving average price of $25.24.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The firm had revenue of $11.80 million during the quarter, compared to analysts’ expectations of $14.18 million. During the same quarter in the previous year, the company posted ($1.08) EPS. Beam Therapeutics’s revenue was down 41.3% on a year-over-year basis. On average, research analysts predict that Beam Therapeutics Inc. will post -4.6 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.