Mercer Global Advisors Inc. ADV Sells 4,568 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Mercer Global Advisors Inc. ADV lessened its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,821 shares of the company’s stock after selling 4,568 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Beam Therapeutics were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Schonfeld Strategic Advisors LLC lifted its position in shares of Beam Therapeutics by 55.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 15,531 shares of the company’s stock worth $385,000 after purchasing an additional 5,514 shares in the last quarter. Northern Trust Corp lifted its position in shares of Beam Therapeutics by 7.2% in the fourth quarter. Northern Trust Corp now owns 740,506 shares of the company’s stock worth $18,365,000 after purchasing an additional 49,415 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Beam Therapeutics in the fourth quarter worth $1,308,000. Price T Rowe Associates Inc. MD lifted its position in shares of Beam Therapeutics by 18.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,753,142 shares of the company’s stock worth $43,479,000 after purchasing an additional 266,834 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Beam Therapeutics by 74.6% in the fourth quarter. Hsbc Holdings PLC now owns 26,514 shares of the company’s stock valued at $666,000 after buying an additional 11,327 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the sale, the chief executive officer now owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Giuseppe Ciaramella sold 7,434 shares of Beam Therapeutics 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 sale, the president now directly owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This represents a 3.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,771 shares of company stock valued at $803,198 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

Beam Therapeutics Price Performance

BEAM stock opened at $17.25 on Friday. The company has a fifty day moving average price of $19.34 and a two-hundred day moving average price of $24.21. Beam Therapeutics Inc. has a one year low of $13.53 and a one year high of $35.25. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -9.80 and a beta of 2.35.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company had revenue of $7.47 million for the quarter, compared to the consensus estimate of $14.69 million. During the same period last year, the firm earned ($1.21) earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank raised shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price for the company in a research note on Monday, March 10th. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, March 10th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Bank of America raised shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, March 28th. Finally, Wells Fargo & Company decreased their target price on shares of Beam Therapeutics from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Beam Therapeutics has an average rating of “Buy” and a consensus price target of $48.75.

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.