SG Americas Securities LLC Purchases 36,004 Shares of Beam Therapeutics Inc. $BEAM

SG Americas Securities LLC grew its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 498.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,220 shares of the company’s stock after buying an additional 36,004 shares during the period. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $1,049,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in Beam Therapeutics by 7,080.0% in the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after purchasing an additional 2,478 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Beam Therapeutics by 1,248.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock worth $65,000 after purchasing an additional 3,534 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Beam Therapeutics by 43.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock worth $66,000 after buying an additional 1,175 shares during the last quarter. Strs Ohio acquired a new position in Beam Therapeutics during the 1st quarter valued at about $193,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in Beam Therapeutics in the second quarter valued at about $200,000. Institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. UBS Group began coverage on shares of Beam Therapeutics in a research report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 target price on the stock. Jefferies Financial Group began coverage on shares of Beam Therapeutics in a research note on Thursday, October 9th. They set a “buy” rating and a $41.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Wednesday, October 8th. Finally, Evercore ISI assumed coverage on Beam Therapeutics in a research report on Monday, November 24th. They issued an “outperform” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.23.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $31.22 on Monday. The business’s 50-day moving average is $26.45 and its two-hundred day moving average is $23.37. The company has a market capitalization of $3.17 billion, a P/E ratio of -7.05 and a beta of 2.07. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $36.44.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.12). The company had revenue of $9.70 million during the quarter, compared to analyst estimates of $12.83 million. Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The business’s quarterly revenue was down 32.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.17) EPS. Analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

About Beam Therapeutics

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.