Riverview Trust Co bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) 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.
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.
View Our Latest Research Report on Beam Therapeutics
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.
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