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

D.A. Davidson & CO. lessened its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,409 shares of the company’s stock after selling 2,438 shares during the period. D.A. Davidson & CO.’s holdings in Beam Therapeutics were worth $1,275,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BEAM. Blue Trust Inc. increased its position in shares of Beam Therapeutics by 84.0% in the third quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock worth $73,000 after acquiring an additional 1,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 purchasing an additional 524 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Beam Therapeutics in the 3rd quarter worth approximately $98,000. KBC Group NV grew its position in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after purchasing an additional 2,104 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Beam Therapeutics by 23.9% during the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after purchasing an additional 1,102 shares during the period. 99.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a research report on Monday, January 13th. Sanford C. Bernstein upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Cantor Fitzgerald upgraded Beam Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reduced their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $39.00 in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Beam Therapeutics has an average rating of “Buy” and a consensus target price of $47.67.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $30.43 on Monday. The firm has a market cap of $2.52 billion, a PE ratio of -17.29 and a beta of 1.92. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50. The firm’s 50 day moving average price is $27.13 and its 200 day moving average price is $25.81.

Insider Activity at Beam Therapeutics

In other news, insider Christine Bellon sold 1,241 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the sale, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. This represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 908,659 shares in the company, valued at $24,306,628.25. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

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.