SG Americas Securities LLC Acquires 60,249 Shares of Beam Therapeutics Inc. $BEAM

SG Americas Securities LLC lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 139.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,469 shares of the company’s stock after buying an additional 60,249 shares during the quarter. SG Americas Securities LLC owned about 0.10% of Beam Therapeutics worth $2,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BEAM. Squarepoint Ops LLC grew its holdings in Beam Therapeutics by 468.3% in the second quarter. Squarepoint Ops LLC now owns 138,765 shares of the company’s stock worth $2,360,000 after purchasing an additional 114,349 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Beam Therapeutics during the second quarter valued at about $654,000. Privium Fund Management B.V. bought a new position in shares of Beam Therapeutics during the 3rd quarter worth about $1,480,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Beam Therapeutics in the 3rd quarter valued at about $1,059,000. Finally, Farallon Capital Management LLC grew its stake in shares of Beam Therapeutics by 0.5% in the 3rd quarter. Farallon Capital Management LLC now owns 10,063,111 shares of the company’s stock valued at $244,232,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BEAM shares. Wall Street Zen raised Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Wednesday, January 21st. UBS Group began coverage on Beam Therapeutics in a research report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 target price on the stock. Canaccord Genuity Group initiated coverage on Beam Therapeutics in a report on Friday, February 20th. They issued a “buy” rating and a $74.00 target price on the stock. Finally, Wedbush lifted their price target on shares of Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $24.66 on Friday. Beam Therapeutics Inc. has a 52 week low of $13.52 and a 52 week high of $36.44. The business has a 50 day moving average price of $26.65 and a 200-day moving average price of $26.38. The company has a market cap of $2.51 billion, a PE ratio of -24.42 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $3.46. The company had revenue of $114.11 million for the quarter, compared to analysts’ expectations of $13.22 million. Beam Therapeutics had a negative return on equity of 30.65% and a negative net margin of 57.24%.Beam Therapeutics’s quarterly revenue was up 280.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.09) earnings per share. As a group, research analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John M. Evans sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $22.37, for a total transaction of $559,250.00. Following the transaction, the chief executive officer directly owned 986,667 shares of the company’s stock, valued at $22,071,740.79. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine Bellon sold 18,629 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69. Following the transaction, the insider directly owned 97,038 shares in the company, valued at $3,358,485.18. The trade was a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,000 shares of company stock worth $1,250,614 over the last ninety days. Insiders own 3.50% of the company’s stock.

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.