Creative Planning Has $293,000 Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Creative Planning raised its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 25.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,946 shares of the company’s stock after buying an additional 2,424 shares during the quarter. Creative Planning’s holdings in Beam Therapeutics were worth $293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank lifted its position in shares of Beam Therapeutics by 3.1% in the 1st quarter. Swiss National Bank now owns 136,700 shares of the company’s stock valued at $4,517,000 after acquiring an additional 4,100 shares in the last quarter. Reynders McVeigh Capital Management LLC purchased a new stake in Beam Therapeutics in the 1st quarter worth about $201,000. QRG Capital Management Inc. boosted its position in Beam Therapeutics by 45.2% during the 1st quarter. QRG Capital Management Inc. now owns 23,036 shares of the company’s stock worth $761,000 after acquiring an additional 7,176 shares during the period. Russell Investments Group Ltd. grew its stake in Beam Therapeutics by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 143,828 shares of the company’s stock valued at $4,752,000 after acquiring an additional 6,102 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in Beam Therapeutics by 10.6% during the 1st quarter. ProShare Advisors LLC now owns 19,511 shares of the company’s stock valued at $645,000 after acquiring an additional 1,873 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Up 3.7 %

Shares of BEAM stock opened at $27.06 on Friday. The business’s 50 day moving average is $24.23 and its two-hundred day moving average is $24.67. The company has a market cap of $2.24 billion, a PE ratio of -15.38 and a beta of 1.86. Beam Therapeutics Inc. has a 12 month low of $18.85 and a 12 month high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) 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 business had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.52 million. During the same period in the prior year, the business posted ($1.22) earnings per share. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, equities analysts expect that Beam Therapeutics Inc. will post -4.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BEAM. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $39.00 in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Thursday. Leerink Partnrs raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Scotiabank assumed coverage on Beam Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $24.00 price target for the company. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.91.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the company’s stock in a transaction that occurred on 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 owns 160,260 shares of the company’s stock, valued at $4,210,030.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 938,659 shares in the company, valued at $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Giuseppe Ciaramella sold 51,110 shares of Beam Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the sale, the president now directly owns 160,260 shares in the company, valued at $4,210,030.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,894 shares of company stock valued at $4,181,745 in the last ninety days. Company 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.