Barclays PLC Buys 94,805 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Barclays PLC lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 51.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,019 shares of the company's stock after purchasing an additional 94,805 shares during the period. Barclays PLC owned about 0.34% of Beam Therapeutics worth $6,895,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Wealthfront Advisers LLC bought a new position in Beam Therapeutics in the fourth quarter worth about $41,000. Sterling Capital Management LLC lifted its holdings in Beam Therapeutics by 816.0% in the fourth 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 during the last quarter. KBC Group NV lifted its holdings in Beam Therapeutics by 103.2% in the fourth quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after acquiring an additional 2,104 shares during the last quarter. Blue Trust Inc. lifted its holdings in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after acquiring an additional 1,139 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock worth $142,000 after acquiring an additional 1,102 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Trading Up 1.1 %

BEAM stock traded up $0.22 during mid-day trading on Wednesday, hitting $19.93. The stock had a trading volume of 2,084,072 shares, compared to its average volume of 1,390,805. Beam Therapeutics Inc. has a 1-year low of $13.53 and a 1-year high of $35.25. The company has a fifty day moving average of $21.62 and a 200 day moving average of $24.68. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -11.32 and a beta of 2.02.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its earnings results 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 company had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. During the same period in the prior year, the firm posted $1.73 EPS. The business's revenue was down 90.5% compared to the same quarter last year. As a group, sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BEAM. Royal Bank of Canada raised their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $78.00 price target on shares of Beam Therapeutics in a research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, April 7th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $49.45.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the sale, the chief executive officer now owns 908,659 shares in the company, valued at approximately $24,306,628.25. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Bellon sold 5,674 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 73,771 shares of company stock worth $1,605,698 in the last 90 days. 4.20% of the stock is owned by company insiders.

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.