Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Bought by Casdin Capital LLC

Casdin Capital LLC grew its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 61.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,250,000 shares of the company's stock after acquiring an additional 475,000 shares during the period. Beam Therapeutics comprises 2.1% of Casdin Capital LLC's portfolio, making the stock its 12th largest position. Casdin Capital LLC owned 1.51% of Beam Therapeutics worth $31,000,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of Beam Therapeutics by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock valued at $142,000 after purchasing an additional 1,102 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Beam Therapeutics in the fourth quarter worth approximately $1,247,000. SG Americas Securities LLC boosted its stake in shares of Beam Therapeutics by 19.4% in the 4th quarter. SG Americas Securities LLC now owns 12,118 shares of the company's stock worth $301,000 after buying an additional 1,971 shares during the last quarter. Blue Trust Inc. grew its position in Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock valued at $105,000 after buying an additional 1,139 shares during the period. Finally, KBC Group NV raised its holdings in Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after purchasing an additional 2,104 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.

Insider Buying and Selling

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of the company'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 transaction of $562,666.05. Following the completion of the sale, the chief executive officer now directly owns 986,249 shares of the company's stock, valued at $18,097,669.15. This represents a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Giuseppe Ciaramella sold 7,434 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $136,413.90. Following the completion of the transaction, the president now owns 190,216 shares in the company, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,771 shares of company stock worth $803,198 over the last 90 days. 4.20% of the stock is owned by insiders.

Beam Therapeutics Stock Up 1.0 %

NASDAQ:BEAM traded up $0.17 on Friday, reaching $17.42. The company's stock had a trading volume of 2,383,293 shares, compared to its average volume of 1,432,774. The stock has a 50 day moving average price of $20.07 and a 200 day moving average price of $24.34. Beam Therapeutics Inc. has a 12-month low of $13.53 and a 12-month high of $35.25. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -9.90 and a beta of 2.35.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company had revenue of $7.47 million for the quarter, compared to analysts' expectations of $14.69 million. During the same period in the prior year, the company posted ($1.21) EPS. The firm's revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BEAM shares. Jones Trading raised shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a report on Monday, March 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research report on Monday, April 7th. Barclays dropped their price target on Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Beam Therapeutics currently has an average rating of "Buy" and an average price target of $48.75.

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.