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

Barclays PLC boosted its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 51.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 278,019 shares of the company’s stock after buying an additional 94,805 shares during the quarter. Barclays PLC owned approximately 0.34% of Beam Therapeutics worth $6,895,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BEAM. Summit Investment Advisors Inc. raised its holdings in shares of Beam Therapeutics by 6.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock valued at $198,000 after purchasing an additional 496 shares during the last quarter. Sterling Capital Management LLC grew its position in Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock worth $60,000 after purchasing an additional 2,146 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Beam Therapeutics in the 4th quarter valued at about $703,000. Martingale Asset Management L P lifted its position in shares of Beam Therapeutics by 8.6% during the 4th quarter. Martingale Asset Management L P now owns 11,438 shares of the company’s stock worth $284,000 after buying an additional 909 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $568,000. 99.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO John M. Evans sold 30,663 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 $562,666.05. Following the sale, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at $18,097,669.15. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christine Bellon sold 5,674 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $104,117.90. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,771 shares of company stock worth $1,605,698. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $20.17 on Friday. Beam Therapeutics Inc. has a 52-week low of $13.53 and a 52-week high of $35.25. The business’s fifty day moving average is $22.46 and its 200 day moving average is $24.75. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -11.46 and a beta of 2.02.

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. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company’s revenue for the quarter was down 90.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. Equities analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BEAM shares. Guggenheim reiterated a “buy” rating and set a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. Royal Bank of Canada lifted their target price on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Scotiabank raised shares of 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. Finally, Bank of America upgraded shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.