Beam Therapeutics Inc. (NASDAQ:BEAM) Stock Holdings Raised by Casdin Capital LLC

Casdin Capital LLC lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 61.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,250,000 shares of the company's stock after purchasing an additional 475,000 shares during the period. Beam Therapeutics comprises about 2.1% of Casdin Capital LLC's investment portfolio, making the stock its 12th biggest holding. Casdin Capital LLC owned about 1.51% of Beam Therapeutics worth $31,000,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. lifted its holdings in Beam Therapeutics by 49.3% during the 4th quarter. Benjamin Edwards Inc. now owns 24,358 shares of the company's stock worth $604,000 after buying an additional 8,043 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Beam Therapeutics in the fourth quarter worth $237,000. Gallagher Fiduciary Advisors LLC bought a new stake in Beam Therapeutics during the fourth quarter valued at $229,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Beam Therapeutics by 55.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 15,531 shares of the company's stock worth $385,000 after purchasing an additional 5,514 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Beam Therapeutics by 7.2% in the 4th quarter. Northern Trust Corp now owns 740,506 shares of the company's stock worth $18,365,000 after buying an additional 49,415 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Price Performance

BEAM stock opened at $19.82 on Tuesday. The firm has a market cap of $1.99 billion, a PE ratio of -11.26 and a beta of 2.35. Beam Therapeutics Inc. has a 12 month low of $13.53 and a 12 month high of $35.25. The firm has a 50 day simple moving average of $20.84 and a 200 day simple moving average of $24.52.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.25) by $0.16. The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. Beam Therapeutics's revenue for the quarter was down 90.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 earnings per share. As a group, 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 related news, CEO John M. Evans sold 30,663 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the sale, the chief executive officer now directly owns 986,249 shares in the company, valued at approximately $18,097,669.15. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christine Bellon sold 5,674 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the sale, the insider now owns 117,294 shares of the company's stock, valued at approximately $2,152,344.90. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,771 shares of company stock valued at $803,198. Company insiders own 4.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BEAM shares. Guggenheim reiterated a "buy" rating and set a $78.00 price objective on shares of Beam Therapeutics in a research note on Thursday, February 27th. Scotiabank upgraded Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective for the company in a research report on Monday, March 10th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Wedbush reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Finally, Cantor Fitzgerald restated 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 given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $49.45.

About Beam Therapeutics

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.

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