Beam Therapeutics Inc. (BEAM)

National Bank of Canada FI Grows Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

National Bank of Canada FI boosted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) by 200.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,500 shares of the company’s stock after buying an additional 1,000 shares during the period. National Bank of Canada FI’s holdings in Beam Therapeutics were worth $41,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEAM. State Board of Administration of Florida Retirement System raised its position in Beam Therapeutics by 2.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 19,910 shares of the company’s stock valued at $479,000 after purchasing an additional 510 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Beam Therapeutics by 125.9% in the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after buying an additional 554 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Beam Therapeutics by 163.7% during the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after buying an additional 686 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Beam Therapeutics by 11.7% during the third quarter. Commonwealth Equity Services LLC now owns 9,812 shares of the company’s stock worth $236,000 after buying an additional 1,030 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Beam Therapeutics by 70.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after acquiring an additional 1,364 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock. Beam Therapeutics Price Performance Shares of BEAM stock opened at $24.62 on Monday. The firm has a market cap of $2.03 billion, a P/E ratio of -13.83 and a beta of 1.88. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The firm’s 50-day simple moving average is $27.75 and its 200-day simple moving average is $28.40. Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.21. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The firm had revenue of $7.40 million for the quarter, compared to analyst estimates of $17.09 million. During the same quarter last year, the firm posted ($1.33) earnings per share. Beam Therapeutics’s revenue for the quarter was down 69.4% compared to the same quarter last year. Analysts expect that Beam Therapeutics Inc. will post -4.68 earnings per share for the current fiscal year. Insider Activity at Beam Therapeutics In other Beam Therapeutics news, insider Amy Simon sold 7,157 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $32.13, for a total transaction of $229,954.41. Following the transaction, the insider now owns 86,590 shares in the company, valued at $2,782,136.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the completion of the sale, the chief executive officer now owns 998,262 shares of the company’s stock, valued at $33,801,151.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy Simon sold 7,157 shares of the 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 transaction, the insider now owns 86,590 shares in the company, valued at $2,782,136.70. The disclosure for this sale can be found here. In the last three months, insiders sold 95,239 shares of company stock worth $3,163,729. Corporate insiders own 4.20% of the company’s stock. Analysts Set New Price Targets A number of research firms have weighed in on BEAM. Royal Bank of Canada increased their price objective on Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. TheStreet upgraded shares of Beam Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 11th. Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research report on Tuesday, May 7th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $38.00 to $40.00 in a report on Monday, January 29th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics presently has an average rating of “Hold” and an average price target of $40.18. Get Our Latest Report on BEAM About Beam Therapeutics (Free Report) 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.