Benjamin F. Edwards & Company Inc. Has $445,000 Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Benjamin F. Edwards & Company Inc. lifted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 4,843.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,982 shares of the company’s stock after purchasing an additional 18,598 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Beam Therapeutics were worth $445,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Beam Therapeutics in the 2nd quarter worth approximately $745,000. Hsbc Holdings PLC acquired a new stake in shares of Beam Therapeutics in the second quarter worth $332,000. Dimensional Fund Advisors LP boosted its holdings in shares of Beam Therapeutics by 63.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company’s stock worth $24,589,000 after buying an additional 407,499 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Beam Therapeutics in the 2nd quarter valued at $1,385,000. Finally, Fairfield Financial Advisors LTD bought a new position in Beam Therapeutics in the 2nd quarter worth $26,000. 99.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BEAM has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays dropped their price target on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price target on shares of Beam Therapeutics in a report on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Beam Therapeutics has an average rating of “Hold” and an average price target of $44.18.

Beam Therapeutics Stock Up 0.2 %

NASDAQ BEAM opened at $24.77 on Wednesday. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50. The stock has a market cap of $2.04 billion, a P/E ratio of -13.92 and a beta of 1.86. The company’s 50-day simple moving average is $26.23 and its 200 day simple moving average is $26.19.

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

Insiders Place Their Bets

In other news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 998,343 shares of the company’s stock, valued at approximately $24,459,403.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

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.