Raymond James Financial Services Advisors Inc. Purchases Shares of 7,932 Beam Therapeutics Inc. (NASDAQ:BEAM)

Raymond James Financial Services Advisors Inc. purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the fourth quarter, Holdings Channel reports. The firm purchased 7,932 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors have also recently bought and sold shares of BEAM. Allworth Financial LP grew its holdings in shares of Beam Therapeutics by 163.7% during the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after purchasing an additional 686 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Beam Therapeutics by 84.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $55,000 after purchasing an additional 1,037 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Beam Therapeutics by 4,605.3% during the third quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock worth $65,000 after purchasing an additional 2,625 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Beam Therapeutics by 70.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock worth $80,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Beam Therapeutics during the third quarter worth $144,000. 99.68% of the stock is currently owned by institutional investors.

Insider Transactions at Beam Therapeutics

In other news, CFO Terry-Ann Burrell sold 5,446 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $32.12, for a total transaction of $174,925.52. Following the sale, the chief financial officer now owns 70,137 shares of the company’s stock, valued at $2,252,800.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, President Giuseppe Ciaramella sold 4,534 shares of Beam Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the sale, the president now owns 169,616 shares of the company’s stock, valued at approximately $5,448,065.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Terry-Ann Burrell sold 5,446 shares of Beam Therapeutics stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.12, for a total value of $174,925.52. Following the completion of the sale, the chief financial officer now directly owns 70,137 shares in the company, valued at approximately $2,252,800.44. The disclosure for this sale can be found here. Insiders have sold a total of 156,804 shares of company stock valued at $4,731,669 over the last 90 days. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BEAM. Royal Bank of Canada raised their price target on Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Barclays raised their price target on Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Wednesday, March 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.00.

Beam Therapeutics Trading Down 3.1 %

NASDAQ:BEAM opened at $22.74 on Thursday. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The business’s 50-day moving average price is $32.50 and its two-hundred day moving average price is $28.09. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -11.97 and a beta of 1.77.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $2.42. The company had revenue of $316.20 million for the quarter, compared to analyst estimates of $34.16 million. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. Beam Therapeutics’s revenue was up 1481.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.54) earnings per share. Sell-side analysts predict that Beam Therapeutics Inc. will post -5.53 earnings per share for the current 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.