C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys Shares of 13,287 Beam Therapeutics Inc. (NASDAQ:BEAM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 13,287 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Beam Therapeutics by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the company’s stock worth $524,000 after purchasing an additional 516 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Beam Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after acquiring an additional 524 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock worth $142,000 after acquiring an additional 1,102 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after acquiring an additional 1,139 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of Beam Therapeutics by 17.9% in the third quarter. Martingale Asset Management L P now owns 10,529 shares of the company’s stock worth $258,000 after acquiring an additional 1,600 shares during the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Beam Therapeutics Stock Performance

NASDAQ BEAM opened at $33.14 on Friday. Beam Therapeutics Inc. has a one year low of $20.84 and a one year high of $49.50. The company’s 50 day moving average price is $27.08 and its 200 day moving average price is $25.77. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -18.83 and a beta of 1.92.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $39.00 in a research report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, February 3rd. Cantor Fitzgerald raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 29th. Finally, Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $47.67.

Insider Activity

In other news, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the sale, the insider now owns 102,968 shares in the company, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the sale, the chief executive officer now owns 908,659 shares in the company, valued at $24,306,628.25. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

About Beam Therapeutics

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.