Signaturefd LLC Decreases Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Signaturefd LLC lowered its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 61.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,021 shares of the company’s stock after selling 1,661 shares during the quarter. Signaturefd LLC’s holdings in Beam Therapeutics were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake 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 valued at $27,000 after acquiring an additional 686 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Beam Therapeutics by 84.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $55,000 after purchasing an additional 1,037 shares during the period. Nisa Investment Advisors LLC raised its position in Beam Therapeutics by 70.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after purchasing an additional 1,364 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Beam Therapeutics in the 3rd quarter worth approximately $144,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Beam Therapeutics in the 4th quarter worth approximately $216,000. Institutional investors own 99.68% of the company’s stock.

Insider Activity

In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the completion of the transaction, the chief executive officer now directly owns 998,262 shares in the company, valued at $33,801,151.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the completion of the transaction, the chief executive officer now directly owns 998,262 shares in the company, valued at $33,801,151.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy Simon sold 7,157 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.13, for a total transaction of $229,954.41. Following the completion of the transaction, the insider now owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,804 shares of company stock worth $3,211,869. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BEAM. BMO Capital Markets reissued an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Barclays upped their price objective on shares of Beam Therapeutics from $26.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $40.00 in a report on Monday, January 29th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.00.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $23.13 on Friday. The company has a 50 day simple moving average of $30.98 and a two-hundred day simple moving average of $28.04. Beam Therapeutics Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $49.50. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -12.17 and a beta of 1.88.

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

About Beam Therapeutics

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.