Mariner LLC Acquires 1,233 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Mariner LLC grew its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,888 shares of the company’s stock after acquiring an additional 1,233 shares during the period. Mariner LLC’s holdings in Beam Therapeutics were worth $344,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BEAM. Barclays PLC boosted its holdings in Beam Therapeutics by 51.7% in the fourth quarter. Barclays PLC now owns 278,019 shares of the company’s stock worth $6,895,000 after purchasing an additional 94,805 shares in the last quarter. Summit Investment Advisors Inc. lifted its position 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 worth $198,000 after buying an additional 496 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock worth $60,000 after acquiring an additional 2,146 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Beam Therapeutics during the 4th quarter valued at about $703,000. Finally, Martingale Asset Management L P raised its stake in shares of Beam Therapeutics by 8.6% in the 4th quarter. Martingale Asset Management L P now owns 11,438 shares of the company’s stock valued at $284,000 after acquiring an additional 909 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Activity at Beam Therapeutics

In other news, insider Christine Bellon sold 5,674 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value 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. This represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $136,413.90. Following the sale, the president now owns 190,216 shares of the company’s stock, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,771 shares of company stock valued at $803,198 over the last quarter. 4.20% of the stock is owned by company insiders.

Beam Therapeutics Trading Up 2.1 %

Shares of NASDAQ:BEAM opened at $20.24 on Friday. The firm has a market capitalization of $2.04 billion, a PE ratio of -11.50 and a beta of 2.35. Beam Therapeutics Inc. has a 1-year low of $13.53 and a 1-year high of $35.25. The business’s 50 day moving average is $21.00 and its 200-day moving average is $24.54.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on BEAM shares. Royal Bank of Canada increased their price target on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 26th. 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. Guggenheim reissued a “buy” rating and set a $78.00 target price on shares of Beam Therapeutics in a research report on Thursday, February 27th. Bank of America raised Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Friday, March 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.