Vanguard Group Inc. Raises Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Vanguard Group Inc. increased its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,164,876 shares of the company’s stock after buying an additional 349,906 shares during the period. Vanguard Group Inc. owned about 8.77% of Beam Therapeutics worth $195,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BEAM. First Horizon Advisors Inc. increased its position in 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 purchasing an additional 554 shares during the period. National Bank of Canada FI boosted its stake in shares of Beam Therapeutics by 200.0% during the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $41,000 after purchasing an additional 1,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Beam Therapeutics during the fourth quarter valued at approximately $216,000. Brandywine Managers LLC bought a new position in shares of Beam Therapeutics during the fourth quarter valued at approximately $220,000. Finally, Teza Capital Management LLC bought a new position in shares of Beam Therapeutics during the third quarter valued at approximately $226,000. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Price Performance

BEAM stock opened at $22.57 on Wednesday. The firm’s fifty day simple moving average is $23.61 and its 200-day simple moving average is $27.79. The company has a market capitalization of $1.86 billion, a P/E ratio of -12.68 and a beta of 1.88. Beam Therapeutics Inc. has a 12 month low of $16.95 and a 12 month high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, May 7th. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.21. The firm 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 revenue for the quarter was down 69.4% compared to the same quarter last year. During the same period last year, the company earned ($1.33) earnings per share. As a group, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.68 earnings per share for the current year.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $24.50, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer now directly owns 998,343 shares in the company, valued at approximately $24,459,403.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, May 7th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, March 27th. TheStreet raised shares of Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Finally, Barclays decreased their price objective on Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, May 8th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.18.

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.