Virtus ETF Advisers LLC Has $63,000 Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Virtus ETF Advisers LLC reduced its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 30.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,534 shares of the company’s stock after selling 1,119 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Beam Therapeutics were worth $63,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Beam Therapeutics by 18.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,753,142 shares of the company’s stock worth $43,479,000 after buying an additional 266,834 shares during the period. Hsbc Holdings PLC raised its stake in Beam Therapeutics by 74.6% during the 4th quarter. Hsbc Holdings PLC now owns 26,514 shares of the company’s stock worth $666,000 after buying an additional 11,327 shares during the period. Rock Springs Capital Management LP raised its stake in Beam Therapeutics by 0.9% during the 4th quarter. Rock Springs Capital Management LP now owns 252,223 shares of the company’s stock worth $6,255,000 after buying an additional 2,300 shares during the period. Stifel Financial Corp raised its stake in Beam Therapeutics by 27.8% during the 4th quarter. Stifel Financial Corp now owns 13,662 shares of the company’s stock worth $339,000 after buying an additional 2,976 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Beam Therapeutics by 7.7% during the 4th quarter. MetLife Investment Management LLC now owns 46,900 shares of the company’s stock worth $1,163,000 after buying an additional 3,366 shares during the period. 99.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on BEAM. Scotiabank raised Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target on the stock in a research note on Monday, March 10th. Royal Bank of Canada increased their price objective 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 reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Monday, March 10th. Bank of America raised Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Friday, March 28th. Finally, Guggenheim reissued a “buy” rating and issued a $78.00 price objective on shares of Beam Therapeutics in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $49.45.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Christine Bellon sold 5,674 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $104,117.90. Following the sale, the insider now directly owns 117,294 shares of the company’s stock, valued at $2,152,344.90. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John M. Evans sold 30,663 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 in the company, valued at $18,097,669.15. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,771 shares of company stock valued at $1,605,698 over the last ninety days. 4.20% of the stock is owned by insiders.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $19.80 on Tuesday. The firm’s 50 day moving average price is $21.89 and its 200-day moving average price is $24.71. The company has a market cap of $1.99 billion, a PE ratio of -11.25 and a beta of 2.02. Beam Therapeutics Inc. has a 52-week low of $13.53 and a 52-week high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. The business had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm’s revenue was down 90.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. On average, analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Beam Therapeutics 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.