Rhumbline Advisers Decreases Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

Rhumbline Advisers lessened its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,233 shares of the company’s stock after selling 872 shares during the period. Rhumbline Advisers owned approximately 0.15% of Beam Therapeutics worth $3,131,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Beam Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after acquiring an additional 524 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Beam Therapeutics during the 3rd quarter worth approximately $98,000. KBC Group NV raised its holdings in shares of Beam Therapeutics by 103.2% in 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 during the period. Blue Trust Inc. lifted its stake in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Beam Therapeutics by 23.9% during the fourth 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.

Insiders Place Their Bets

In related news, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were 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 $2,541,250.24. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John M. Evans sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 908,659 shares in the company, valued at approximately $24,306,628.25. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Beam Therapeutics Stock Down 2.8 %

Shares of Beam Therapeutics stock opened at $26.34 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -14.97 and a beta of 1.92. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $45.05. The business has a 50-day moving average price of $27.18 and a 200-day moving average price of $25.93.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.16. The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. Beam Therapeutics’s quarterly revenue was down 90.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. On average, equities analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

BEAM has been the topic of a number of recent research reports. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Friday. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their target price on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $50.90.

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.