Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in Beam Therapeutics Inc. (NASDAQ:BEAMFree Report) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,545 shares of the company’s stock after acquiring an additional 8,321 shares during the period. D.A. Davidson & CO.’s holdings in Beam Therapeutics were worth $638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Beam Therapeutics by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 481,856 shares of the company’s stock valued at $15,386,000 after acquiring an additional 5,463 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Beam Therapeutics by 29.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,506 shares of the company’s stock valued at $80,000 after acquiring an additional 574 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Beam Therapeutics by 35.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,642,180 shares of the company’s stock valued at $39,494,000 after acquiring an additional 427,100 shares in the last quarter. Barclays PLC boosted its holdings in shares of Beam Therapeutics by 36.7% in the third quarter. Barclays PLC now owns 197,647 shares of the company’s stock valued at $4,752,000 after acquiring an additional 53,115 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Beam Therapeutics by 106.4% in the second quarter. Hsbc Holdings PLC now owns 33,722 shares of the company’s stock valued at $1,086,000 after acquiring an additional 17,384 shares in the last quarter. 80.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the sale, the chief executive officer now owns 1,058,262 shares in the company, valued at approximately $26,805,776.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the sale, the chief executive officer now owns 1,058,262 shares in the company, valued at approximately $26,805,776.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christine Bellon sold 1,907 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $26.42, for a total transaction of $50,382.94. Following the completion of the sale, the insider now owns 80,495 shares of the company’s stock, valued at approximately $2,126,677.90. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

BEAM has been the subject of a number of research reports. SVB Leerink cut shares of Beam Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $75.00 to $20.00 in a report on Friday, October 20th. Cantor Fitzgerald cut shares of Beam Therapeutics from an “overweight” rating to a “neutral” rating in a report on Friday, October 20th. Wedbush restated an “outperform” rating and set a $48.00 target price on shares of Beam Therapeutics in a report on Monday, January 8th. Jefferies Financial Group restated a “hold” rating and set a $30.00 target price (down from $75.00) on shares of Beam Therapeutics in a report on Friday, December 8th. Finally, Bank of America cut shares of Beam Therapeutics from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Friday, December 15th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.92.

View Our Latest Stock Analysis on BEAM

Beam Therapeutics Stock Performance

Shares of NASDAQ:BEAM opened at $33.40 on Tuesday. Beam Therapeutics Inc. has a 52 week low of $16.95 and a 52 week high of $44.49. The company has a market cap of $2.72 billion, a PE ratio of -8.01 and a beta of 1.66. The firm has a 50 day simple moving average of $27.00 and a 200 day simple moving average of $25.24.

Beam Therapeutics Company 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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.

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Institutional Ownership by Quarter for Beam Therapeutics (NASDAQ:BEAM)

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