Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P increased its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,438 shares of the company’s stock after purchasing an additional 909 shares during the quarter. Martingale Asset Management L P’s holdings in Beam Therapeutics were worth $284,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in Beam Therapeutics during the fourth quarter worth approximately $41,000. KBC Group NV raised its stake in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after acquiring an additional 2,104 shares in the last quarter. Blue Trust Inc. lifted its position in Beam Therapeutics by 36.3% in the fourth 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 during the last quarter. GAMMA Investing LLC lifted its position in Beam Therapeutics by 23.9% in the fourth 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 during the last quarter. Finally, Atria Investments Inc boosted its stake in Beam Therapeutics by 17.1% in the fourth quarter. Atria Investments Inc now owns 9,562 shares of the company’s stock valued at $237,000 after acquiring an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

BEAM has been the subject of several research reports. Jones Trading raised Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Monday, March 10th. Royal Bank of Canada boosted their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Bank of America raised shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Friday, March 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, April 7th. Two investment 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, the company presently has an average rating of “Buy” and an average price target of $49.45.

Beam Therapeutics Stock Up 5.7 %

Shares of NASDAQ:BEAM opened at $15.47 on Monday. Beam Therapeutics Inc. has a 52 week low of $13.53 and a 52 week high of $35.25. The company has a 50-day moving average price of $24.37 and a 200 day moving average price of $25.13. The company has a market cap of $1.54 billion, a P/E ratio of -8.79 and a beta of 2.02.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating 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 period last year, the firm earned $1.73 EPS. The company’s quarterly revenue was down 90.5% compared to the same quarter last year. Analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Insider Buying and Selling at Beam Therapeutics

In other news, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $136,413.90. Following the completion of the transaction, the president now owns 190,216 shares in the company, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were 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 trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,771 shares of company stock valued at $1,605,698. 4.20% of the stock is owned by company insiders.

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.