Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,753,142 shares of the company's stock after purchasing an additional 266,834 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.12% of Beam Therapeutics worth $43,479,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in Beam Therapeutics by 74.6% in the 4th quarter. Hsbc Holdings PLC now owns 26,514 shares of the company's stock worth $666,000 after buying an additional 11,327 shares during the period. Rock Springs Capital Management LP lifted its position in Beam Therapeutics by 0.9% during the fourth quarter. Rock Springs Capital Management LP now owns 252,223 shares of the company's stock valued at $6,255,000 after purchasing an additional 2,300 shares during the period. Stifel Financial Corp boosted its holdings in Beam Therapeutics by 27.8% in the fourth quarter. Stifel Financial Corp now owns 13,662 shares of the company's stock valued at $339,000 after purchasing an additional 2,976 shares during the last quarter. MetLife Investment Management LLC grew its position in Beam Therapeutics by 7.7% during the 4th quarter. MetLife Investment Management LLC now owns 46,900 shares of the company's stock worth $1,163,000 after purchasing an additional 3,366 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Beam Therapeutics by 24.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,538,398 shares of the company's stock worth $38,155,000 after purchasing an additional 298,067 shares during the period. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Beam Therapeutics Stock Down 2.7 %

Shares of Beam Therapeutics stock traded down $0.54 during trading hours on Monday, reaching $19.70. 594,688 shares of the company's stock were exchanged, compared to its average volume of 1,391,583. The business has a fifty day moving average of $21.00 and a two-hundred day moving average of $24.55. The company has a market capitalization of $1.98 billion, a P/E ratio of -11.18 and a beta of 2.35. Beam Therapeutics Inc. has a 1 year low of $13.53 and a 1 year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, topping analysts' consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. During the same period last year, the company posted $1.73 EPS. The business's revenue was down 90.5% on a year-over-year basis. As a group, research analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on BEAM shares. Bank of America raised Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a report on Friday, March 28th. Guggenheim reiterated a "buy" rating and set a $78.00 price target on shares of Beam Therapeutics in a research report on Thursday, February 27th. Wedbush reissued an "outperform" rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Jones Trading raised Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 target price for the company in a research note on Monday, March 10th. Finally, Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price target on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $49.45.

Insiders Place Their Bets

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 7,434 shares of the 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 $136,413.90. Following the sale, the president now directly owns 190,216 shares in the company, valued at $3,490,463.60. This 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 link. Also, CEO John M. Evans sold 30,663 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 $562,666.05. Following the sale, the chief executive officer now directly owns 986,249 shares in the company, valued at $18,097,669.15. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,771 shares of company stock valued at $803,198 over the last ninety days. Company insiders own 4.20% of the company's stock.

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.