International Assets Investment Management LLC Makes New Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

International Assets Investment Management LLC purchased a new position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,050 shares of the company's stock, valued at approximately $1,852,000. International Assets Investment Management LLC owned approximately 0.08% of Beam Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its position in Beam Therapeutics by 0.4% in the third quarter. Alliancebernstein L.P. now owns 70,100 shares of the company's stock worth $3,340,000 after purchasing an additional 300 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Beam Therapeutics by 5.1% during the first quarter. Stifel Financial Corp now owns 7,022 shares of the company's stock worth $215,000 after buying an additional 338 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Beam Therapeutics by 4.2% during the fourth quarter. Vident Investment Advisory LLC now owns 8,520 shares of the company's stock worth $333,000 after buying an additional 343 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Beam Therapeutics by 1.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,580 shares of the company's stock worth $1,000,000 after buying an additional 343 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Beam Therapeutics by 29.9% during the first quarter. Captrust Financial Advisors now owns 1,845 shares of the company's stock worth $106,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the transaction, the chief executive officer now directly owns 1,058,262 shares of the company's stock, valued at $26,805,776.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO John M. Evans sold 18,102 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.13, for a total transaction of $581,617.26. Following the sale, the chief executive officer now directly owns 1,058,343 shares in the company, valued at $34,004,560.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John M. Evans sold 60,000 shares of the firm's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the sale, the chief executive officer now owns 1,058,262 shares in the company, valued at $26,805,776.46. The disclosure for this sale can be found here. Insiders have sold a total of 156,804 shares of company stock valued at $4,731,669 over the last three months. 4.40% of the stock is currently owned by corporate insiders.

Beam Therapeutics Stock Down 1.7 %

BEAM stock traded down $0.41 during midday trading on Friday, reaching $23.90. The company's stock had a trading volume of 4,536,965 shares, compared to its average volume of 1,233,145. The business's 50-day simple moving average is $32.99 and its 200-day simple moving average is $28.10. The stock has a market cap of $1.95 billion, a PE ratio of -12.58 and a beta of 1.77. Beam Therapeutics Inc. has a 52 week low of $16.95 and a 52 week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $2.42. The company had revenue of $316.20 million for the quarter, compared to analysts' expectations of $34.16 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The business's quarterly revenue was up 1481.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.54) earnings per share. As a group, equities analysts forecast that Beam Therapeutics Inc. will post -5.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BEAM. TheStreet raised shares of Beam Therapeutics from a "d" rating to a "c-" rating in a report on Monday, March 11th. Wedbush reissued an "outperform" rating and set a $57.00 price target (up from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. Barclays increased their price target on shares of Beam Therapeutics from $26.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 28th. BMO Capital Markets reissued an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada increased their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.00.

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.