Marshall Wace LLP Makes New Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

Marshall Wace LLP bought a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,000 shares of the company's stock, valued at approximately $1,364,000. Marshall Wace LLP owned 0.07% of Beam Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp purchased a new stake in shares of Beam Therapeutics in the 3rd quarter valued at approximately $262,000. Franklin Resources Inc. purchased a new position in Beam Therapeutics in the third quarter valued at $400,000. GAMMA Investing LLC increased 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 valued at $142,000 after buying an additional 1,102 shares during the last quarter. Avanza Fonder AB acquired a new stake in Beam Therapeutics in the fourth quarter valued at $1,247,000. Finally, SG Americas Securities LLC lifted its holdings in Beam Therapeutics by 19.4% during 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. Institutional investors and hedge funds own 99.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BEAM shares. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, April 7th. Wedbush restated an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Bank of America raised shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a research report on Friday, March 28th. Jones Trading upgraded shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research note on Monday, March 10th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $49.45.

Insider Transactions at Beam Therapeutics

In other news, President Giuseppe Ciaramella sold 7,434 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 $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares of the company's stock, valued at $3,490,463.60. This trade represents a 3.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Bellon sold 5,674 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 117,294 shares in the company, valued at $2,152,344.90. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,771 shares of company stock worth $803,198. Company insiders own 4.20% of the company's stock.

Beam Therapeutics Stock Up 2.1 %

BEAM traded up $0.41 on Friday, hitting $20.24. 1,777,936 shares of the company traded hands, compared to its average volume of 1,394,612. The company has a 50 day moving average of $21.00 and a 200-day moving average of $24.55. Beam Therapeutics Inc. has a 12-month low of $13.53 and a 12-month high of $35.25. The stock has a market capitalization of $2.04 billion, a PE ratio of -11.50 and a beta of 2.35.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) EPS 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 business had revenue of $30.00 million during the quarter, compared to analysts' expectations of $16.47 million. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company's quarterly revenue was down 90.5% compared to the same quarter last year. On average, research analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

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.