D.A. Davidson & CO. Has $1.32 Million Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

D.A. Davidson & CO. raised its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 8.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 53,847 shares of the company’s stock after purchasing an additional 4,222 shares during the period. D.A. Davidson & CO.’s holdings in Beam Therapeutics were worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fairfield Financial Advisors LTD bought a new position in Beam Therapeutics in the second quarter worth $26,000. Blue Trust Inc. boosted its position in shares of Beam Therapeutics by 2,648.4% during the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after acquiring an additional 1,642 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Beam Therapeutics by 200.0% during the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock valued at $69,000 after acquiring an additional 2,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $75,000 after acquiring an additional 524 shares during the period. Finally, Quarry LP raised its position in Beam Therapeutics by 350.0% in the second quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Trading Up 0.6 %

Shares of BEAM stock opened at $27.37 on Friday. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $49.50. The firm’s 50 day moving average is $24.63 and its 200-day moving average is $25.07. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.55 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The firm had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.22) EPS. On average, equities research analysts forecast that Beam Therapeutics Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total value of $1,347,259.60. Following the transaction, the president now directly owns 109,150 shares in the company, valued at $2,877,194. This represents a 31.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at $23,091,011.40. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,894 shares of company stock worth $4,181,745 over the last 90 days. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Leerink Partners upgraded Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus increased their target price on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $44.91.

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.