Wells Fargo & Company MN Has $3.17 Million Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Wells Fargo & Company MN grew its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,002 shares of the company’s stock after acquiring an additional 19,158 shares during the period. Wells Fargo & Company MN owned about 0.15% of Beam Therapeutics worth $3,174,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC raised its position in shares of Beam Therapeutics by 4.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 9,597 shares of the company’s stock valued at $238,000 after buying an additional 403 shares in the last quarter. Swiss National Bank grew its position in Beam Therapeutics by 0.8% during the 4th quarter. Swiss National Bank now owns 137,800 shares of the company’s stock worth $3,417,000 after acquiring an additional 1,100 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Beam Therapeutics by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock worth $142,000 after purchasing an additional 1,102 shares during the last quarter. Blue Trust Inc. increased its position in Beam Therapeutics by 36.3% in the 4th 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 period. Finally, Atria Investments Inc increased its holdings 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 purchasing an additional 1,395 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 7,434 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the transaction, the chief executive officer now directly owns 908,659 shares in the company, valued at $24,306,628.25. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,771 shares of company stock valued at $1,605,698. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BEAM. Royal Bank of Canada boosted their target price on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 26th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Guggenheim reiterated a “buy” rating and set a $78.00 price objective on shares of Beam Therapeutics in a report on Thursday, February 27th. Finally, Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price on the stock in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Beam Therapeutics has a consensus rating of “Buy” and an average target price of $49.45.

Beam Therapeutics Stock Up 4.9 %

Shares of NASDAQ BEAM opened at $19.13 on Wednesday. The company has a market capitalization of $1.91 billion, a PE ratio of -10.87 and a beta of 2.02. The stock’s 50 day moving average price is $22.95 and its 200-day moving average price is $24.81. Beam Therapeutics Inc. has a twelve month low of $13.53 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $16.47 million. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was down 90.5% on a year-over-year basis. As a group, research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS 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.