55,000 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Purchased by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 55,000 shares of the company’s stock, valued at approximately $1,364,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new stake in shares of Beam Therapeutics in the 4th quarter valued at about $41,000. Sterling Capital Management LLC raised its holdings in shares of Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after acquiring an additional 2,146 shares in the last quarter. KBC Group NV raised its holdings in shares of Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after acquiring an additional 2,104 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Beam Therapeutics by 36.3% in the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after acquiring an additional 1,139 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Beam Therapeutics by 23.9% in the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after acquiring an additional 1,102 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

NASDAQ BEAM opened at $19.80 on Tuesday. Beam Therapeutics Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $35.25. The stock has a 50 day simple moving average of $21.89 and a two-hundred day simple moving average of $24.71. The stock has a market cap of $1.99 billion, a P/E ratio of -11.25 and a beta of 2.02.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $16.47 million. During the same quarter last year, the business posted $1.73 EPS. The business’s revenue was down 90.5% on a year-over-year basis. Sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John M. Evans sold 30,663 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $562,666.05. Following the completion of the transaction, the chief executive officer now owns 986,249 shares in the company, valued at $18,097,669.15. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Bellon sold 5,674 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $104,117.90. Following the completion of the transaction, the insider now owns 117,294 shares of the company’s stock, valued at approximately $2,152,344.90. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,771 shares of company stock worth $1,605,698. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BEAM shares. Guggenheim reiterated a “buy” rating and set a $78.00 price objective on shares of Beam Therapeutics in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Monday, March 10th. Finally, Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $49.45.

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.