Vestmark Advisory Solutions Inc. Has $3.02 Million Stock Position in Beam Therapeutics Inc. $BEAM

Key Points

• Vestmark Advisory Solutions Inc. has reduced its stake in Beam Therapeutics by 10.8%, now owning 154,521 shares worth approximately $3.02 million.
• Institutional investors hold a significant 99.68% of Beam Therapeutics stock, indicating strong interest from the investment community.
• Analysts have a consensus rating of "Buy" for Beam Therapeutics, with price targets ranging from $21.00 to $70.00, reflecting positive sentiments about the company’s growth prospects.

Vestmark Advisory Solutions Inc. cut its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,521 shares of the company's stock after selling 18,631 shares during the quarter. Vestmark Advisory Solutions Inc. owned approximately 0.15% of Beam Therapeutics worth $3,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $43,000. Sterling Capital Management LLC grew its position in shares of Beam Therapeutics by 816.0% in the 4th 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 in the last quarter. CWM LLC boosted its position in Beam Therapeutics by 79.8% during the 1st quarter. CWM LLC now owns 2,684 shares of the company's stock valued at $52,000 after purchasing an additional 1,191 shares during the period. Amalgamated Bank boosted its position in Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company's stock valued at $62,000 after purchasing an additional 534 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Beam Therapeutics during the 1st quarter valued at $87,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BEAM shares. Cantor Fitzgerald raised Beam Therapeutics to a "strong-buy" rating in a research note on Monday, July 21st. Barclays cut their target price on Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company cut their target price on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Guggenheim cut their target price on Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $48.45.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Fmr Llc sold 48,374 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $20.50, for a total transaction of $991,667.00. Following the completion of the transaction, the insider owned 2,073,665 shares of the company's stock, valued at approximately $42,510,132.50. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 49,624 shares of company stock worth $1,015,628. 3.50% of the stock is currently owned by insiders.

Beam Therapeutics Trading Down 0.7%

NASDAQ BEAM traded down $0.12 on Thursday, reaching $15.94. The stock had a trading volume of 1,136,753 shares, compared to its average volume of 2,088,374. The business has a 50 day moving average price of $18.77 and a 200 day moving average price of $20.52. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $35.25. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.54 and a beta of 2.22.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.00) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.04. Beam Therapeutics had a negative return on equity of 43.15% and a negative net margin of 661.31%.The business had revenue of $8.47 million during the quarter, compared to analysts' expectations of $13.29 million. During the same quarter in the previous year, the firm earned ($1.11) EPS. The firm's revenue was down 28.0% compared to the same quarter last year. On average, analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Beam Therapeutics 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.