SG Americas Securities LLC Purchases 1,971 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

SG Americas Securities LLC grew its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 19.4% during the fourth quarter, HoldingsChannel reports. The firm owned 12,118 shares of the company’s stock after buying an additional 1,971 shares during the period. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $301,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Beam Therapeutics by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the company’s stock valued at $524,000 after buying an additional 516 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Beam Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after acquiring an additional 524 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Beam Therapeutics by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,620 shares of the company’s stock valued at $113,000 after purchasing an additional 544 shares during the period. Blue Trust Inc. boosted its position in shares of Beam Therapeutics by 84.0% during the 3rd quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock valued at $73,000 after purchasing an additional 1,431 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in Beam Therapeutics by 17.9% during the third quarter. Martingale Asset Management L P now owns 10,529 shares of the company’s stock worth $258,000 after purchasing an additional 1,600 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Performance

BEAM stock opened at $27.82 on Thursday. The business has a 50-day simple moving average of $26.49 and a two-hundred day simple moving average of $25.77. The company has a market capitalization of $2.30 billion, a P/E ratio of -15.81 and a beta of 1.92. 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 earnings results 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 company had revenue of $14.30 million for the quarter, compared to analysts’ expectations of $14.52 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 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.22) EPS. As a group, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BEAM. Royal Bank of Canada dropped their price target on Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Monday. Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 29th. Finally, Scotiabank started coverage on shares of Beam Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $47.67.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction 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 transaction, the insider now owns 102,968 shares of the company’s stock, valued at approximately $2,541,250.24. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

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.