GAMMA Investing LLC Raises Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

GAMMA Investing LLC raised its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 549.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,185 shares of the company’s stock after purchasing an additional 31,463 shares during the quarter. GAMMA Investing LLC’s holdings in Beam Therapeutics were worth $726,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in shares of Beam Therapeutics during the 4th quarter valued at about $41,000. GF Fund Management CO. LTD. bought a new stake in shares of Beam Therapeutics during the 4th quarter valued at about $43,000. Sterling Capital Management LLC grew 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 valued at $60,000 after purchasing an additional 2,146 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Beam Therapeutics during the 4th quarter valued at approximately $191,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Beam Therapeutics by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock valued at $198,000 after acquiring an additional 496 shares during the period. 99.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BEAM has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Monday, March 10th. Barclays lowered their price target on Beam Therapeutics from $31.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their price target on Beam Therapeutics from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Beam Therapeutics has an average rating of “Buy” and a consensus price target of $48.75.

Beam Therapeutics Price Performance

Shares of BEAM opened at $16.67 on Wednesday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -3.62 and a beta of 2.08. Beam Therapeutics Inc. has a 1 year low of $13.53 and a 1 year high of $35.25. The business’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $22.88.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 609.24% and a negative return on equity of 44.24%. The company had revenue of $7.47 million for the quarter, compared to analysts’ expectations of $14.69 million. During the same quarter in the previous year, the company posted ($1.21) EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 5,674 shares of the company’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 $104,117.90. Following the transaction, the insider now owns 117,294 shares of the company’s stock, valued at $2,152,344.90. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John M. Evans sold 30,663 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $562,666.05. Following the completion of the transaction, the chief executive officer now directly owns 986,249 shares in the company, valued at $18,097,669.15. This trade represents a 3.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,771 shares of company stock worth $803,198. Company insiders own 3.50% of the company’s stock.

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.