Riverview Trust Co Invests $26,000 in Beam Therapeutics Inc. (NASDAQ:BEAM)

Riverview Trust Co bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 796 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Beam Therapeutics by 125.9% during the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after acquiring an additional 554 shares during the period. National Bank of Canada FI increased its stake in shares of Beam Therapeutics by 200.0% in the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Beam Therapeutics by 144.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after purchasing an additional 923 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Beam Therapeutics in the 4th quarter worth $216,000. Finally, Brandywine Managers LLC bought a new position in Beam Therapeutics in the 4th quarter worth $220,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Price Performance

Shares of BEAM stock opened at $24.84 on Thursday. The company has a market cap of $2.04 billion, a PE ratio of -13.96 and a beta of 1.89. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The stock’s 50 day simple moving average is $23.66 and its two-hundred day simple moving average is $27.92.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.21. The company had revenue of $7.40 million for the quarter, compared to analyst estimates of $17.09 million. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. Beam Therapeutics’s quarterly revenue was down 69.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.33) EPS. Equities research analysts expect that Beam Therapeutics Inc. will post -4.68 EPS for the current year.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 4,534 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the sale, the president now owns 169,616 shares of the company’s stock, valued at $5,448,065.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Beam Therapeutics news, President Giuseppe Ciaramella sold 4,534 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the sale, the president now owns 169,616 shares in the company, valued at $5,448,065.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Amy Simon sold 7,157 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.13, for a total transaction of $229,954.41. Following the sale, the insider now directly owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,239 shares of company stock worth $1,132,129. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their target price on shares of Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Barclays reduced their price target on shares of Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. TheStreet raised shares of Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a report on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.18.

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.