SG Americas Securities LLC Has $301,000 Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

SG Americas Securities LLC lifted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 19.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,118 shares of the company’s stock after buying an additional 1,971 shares during the quarter. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $301,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in Beam Therapeutics by 59.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock worth $87,044,000 after purchasing an additional 1,328,414 shares in the last quarter. State Street Corp increased its holdings in shares of Beam Therapeutics by 12.5% during the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after purchasing an additional 437,402 shares during the period. Bellevue Group AG raised its position in shares of Beam Therapeutics by 7.1% in the third quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock valued at $37,194,000 after buying an additional 100,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Beam Therapeutics by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock valued at $44,297,000 after buying an additional 78,102 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Beam Therapeutics during the third quarter worth approximately $15,760,000. Institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald raised Beam Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 29th. Leerink Partnrs raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Monday, January 13th. Scotiabank began coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Finally, Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $27.00 to $39.00 in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Beam Therapeutics currently has an average rating of “Buy” and an average price target of $47.67.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $27.82 on Thursday. The company’s 50 day moving average price is $26.49 and its two-hundred day moving average price is $25.77. The firm 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 fifty-two week low of $20.84 and a fifty-two week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.01). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.52 million. During the same period last year, the business earned ($1.22) EPS. The company’s revenue was down 16.9% compared to the same quarter last year. On average, analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Christine Bellon sold 1,241 shares of the 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 completion of the sale, the insider now directly owns 102,968 shares in the company, valued at $2,541,250.24. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $26.75, for a total value of $802,500.00. Following the transaction, the chief executive officer now directly owns 908,659 shares of the company’s stock, valued at approximately $24,306,628.25. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.