Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 2.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,621,989 shares of the company’s stock after selling 222,617 shares during the period. Vanguard Group Inc. owned about 0.09% of Beam Therapeutics worth $189,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at $41,000. KBC Group NV grew its holdings in Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after acquiring an additional 2,104 shares during the period. Blue Trust Inc. raised its position in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after acquiring an additional 1,139 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Beam Therapeutics by 23.9% in the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Atria Investments Inc boosted its position in shares of Beam Therapeutics by 17.1% during the 4th quarter. Atria Investments Inc now owns 9,562 shares of the company’s stock valued at $237,000 after purchasing an additional 1,395 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, March 10th. Royal Bank of Canada boosted their target price on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 26th. Bank of America upgraded Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Friday, March 28th. Finally, Guggenheim restated a “buy” rating and set a $78.00 price objective on shares of Beam Therapeutics in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Beam Therapeutics presently has an average rating of “Buy” and a consensus price target of $49.45.

Beam Therapeutics Trading Down 7.2 %

Shares of NASDAQ BEAM opened at $15.27 on Monday. Beam Therapeutics Inc. has a one year low of $14.72 and a one year high of $35.25. The business has a 50-day moving average price of $25.86 and a two-hundred day moving average price of $25.61. The firm has a market capitalization of $1.52 billion, a PE ratio of -8.68 and a beta of 2.02.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. The business had revenue of $30.00 million during 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 quarterly revenue was down 90.5% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. Research analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Insider Buying and Selling at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction that occurred 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 transaction, the president now owns 190,216 shares in the company, valued at approximately $3,490,463.60. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on 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 sale, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,771 shares of company stock valued at $1,605,698 in the last quarter. Company insiders own 4.20% of the company’s stock.

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.