Barclays PLC Increases Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Barclays PLC boosted its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 51.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,019 shares of the company’s stock after buying an additional 94,805 shares during the quarter. Barclays PLC’s holdings in Beam Therapeutics were worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BEAM. ARK Investment Management LLC grew its holdings in shares of Beam Therapeutics by 8.2% during the 4th quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company’s stock valued at $175,287,000 after purchasing an additional 536,930 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Beam Therapeutics by 11.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock valued at $98,149,000 after buying an additional 404,782 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Beam Therapeutics by 11.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock valued at $98,109,000 after buying an additional 404,782 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Beam Therapeutics by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,945 shares of the company’s stock worth $16,094,000 after buying an additional 19,453 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Beam Therapeutics by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 276,917 shares of the company’s stock valued at $6,868,000 after acquiring an additional 49,372 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Stock Up 1.5 %

Beam Therapeutics stock opened at $20.17 on Friday. The stock’s 50 day moving average is $22.46 and its 200 day moving average is $24.75. The company has a market capitalization of $2.03 billion, a P/E ratio of -11.46 and a beta of 2.02. Beam Therapeutics Inc. has a twelve month low of $13.53 and a twelve month high of $35.25.

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

Insider Buying and Selling

In other news, President Giuseppe Ciaramella sold 7,434 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $136,413.90. Following the sale, the president now owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $26.75, for a total transaction of $802,500.00. Following the completion of the sale, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,771 shares of company stock worth $1,605,698 in the last three months. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BEAM. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, April 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Royal Bank of Canada upped their price target on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and issued a $78.00 price objective on shares of Beam Therapeutics in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $49.45.

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.