8,167 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by Atria Investments Inc

Atria Investments Inc bought a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,167 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farallon Capital Management LLC grew its stake in shares of Beam Therapeutics by 75.4% during the second quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock worth $185,404,000 after purchasing an additional 3,401,370 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Beam Therapeutics by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock worth $250,402,000 after purchasing an additional 413,892 shares in the last quarter. ARCH Venture Management LLC acquired a new position in shares of Beam Therapeutics during the second quarter worth $127,530,000. Price T Rowe Associates Inc. MD grew its stake in shares of Beam Therapeutics by 3,137.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,246,189 shares of the company’s stock worth $41,175,000 after purchasing an additional 1,207,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Beam Therapeutics by 63.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company’s stock worth $24,589,000 after purchasing an additional 407,499 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Buying and Selling

In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the transaction, the president now directly owns 109,150 shares of the company’s stock, valued at $2,877,194. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John M. Evans sold 60,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the transaction, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at $23,091,011.40. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,894 shares of company stock valued at $4,181,745 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $25.05 on Monday. Beam Therapeutics Inc. has a fifty-two week low of $20.84 and a fifty-two week high of $49.50. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -14.23 and a beta of 1.86. The firm has a 50-day simple moving average of $24.51 and a 200-day simple moving average of $24.93.

Beam Therapeutics (NASDAQ:BEAM) last posted 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). The firm had revenue of $14.30 million for the quarter, compared to analysts’ expectations of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the prior year, the company earned ($1.22) earnings per share. Equities research analysts forecast that Beam Therapeutics Inc. will post -4.66 EPS for the current year.

Wall Street Analysts Forecast Growth

BEAM has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.91.

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.