98,215 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 98,215 shares of the company’s stock, valued at approximately $2,673,000.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Beam Therapeutics during the 3rd quarter valued at approximately $363,000. Commonwealth Equity Services LLC lifted its position in Beam Therapeutics by 11.7% during the third quarter. Commonwealth Equity Services LLC now owns 9,812 shares of the company’s stock valued at $236,000 after purchasing an additional 1,030 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Beam Therapeutics by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 493,916 shares of the company’s stock worth $11,879,000 after buying an additional 12,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Beam Therapeutics by 15.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,907 shares of the company’s stock worth $286,000 after buying an additional 1,549 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Beam Therapeutics by 10.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,682 shares of the company’s stock valued at $7,833,000 after buying an additional 30,909 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 998,262 shares in the company, valued at approximately $33,801,151.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Beam Therapeutics news, insider Fmr Llc sold 1,565 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $30.76, for a total value of $48,139.40. Following the completion of the sale, the insider now directly owns 2,771,913 shares in the company, valued at $85,264,043.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $33.86, for a total value of $2,031,600.00. Following the transaction, the chief executive officer now directly owns 998,262 shares in the company, valued at $33,801,151.32. The disclosure for this sale can be found here. Insiders sold 96,804 shares of company stock worth $3,211,869 over the last three months. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on BEAM shares. TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Tuesday, April 23rd. Barclays increased their price target on Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada increased their target price on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.00.

Beam Therapeutics Price Performance

BEAM stock traded up $0.41 during mid-day trading on Friday, reaching $23.13. The company had a trading volume of 1,226,247 shares, compared to its average volume of 1,664,112. The firm has a 50 day moving average of $30.98 and a 200 day moving average of $28.08. Beam Therapeutics Inc. has a 12 month low of $16.95 and a 12 month high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of ($0.69) by $2.42. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The company had revenue of $316.20 million for the quarter, compared to the consensus estimate of $34.16 million. During the same period last year, the business posted ($0.54) EPS. Beam Therapeutics’s quarterly revenue was up 1481.0% on a year-over-year basis. As a group, equities analysts anticipate that Beam Therapeutics Inc. will post -5.53 EPS for the current year.

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.