SG Americas Securities LLC Sells 8,995 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

SG Americas Securities LLC lessened its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 47.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,147 shares of the company’s stock after selling 8,995 shares during the quarter. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Beam Therapeutics during the first quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new position in Beam Therapeutics during the second quarter worth about $26,000. Blue Trust Inc. boosted its position in Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock worth $40,000 after purchasing an additional 1,642 shares during the period. PNC Financial Services Group Inc. boosted its position in Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock worth $43,000 after purchasing an additional 923 shares during the period. Finally, National Bank of Canada FI boosted its position in Beam Therapeutics by 200.0% during the second quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 99.68% of the company’s stock.

Analysts Set New Price Targets

BEAM has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays cut their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank started coverage on shares of Beam Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price objective on shares of Beam Therapeutics in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Insider Activity at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now owns 938,659 shares in the company, valued at approximately $23,091,011.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the completion of the transaction, the chief executive officer now owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Giuseppe Ciaramella sold 51,110 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $26.27, for a total value of $1,342,659.70. Following the completion of the transaction, the president now directly owns 160,260 shares of the company’s stock, valued at approximately $4,210,030.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,784 shares of company stock worth $2,834,485 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $23.15 on Tuesday. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The firm has a market cap of $1.91 billion, a PE ratio of -13.01 and a beta of 1.85. The company has a 50 day simple moving average of $24.80 and a two-hundred day simple moving average of $24.92.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.02. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.08) earnings per share. As a group, research analysts anticipate that Beam Therapeutics Inc. will post -4.6 earnings per share for the current year.

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.