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

Price T Rowe Associates Inc. MD grew its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,753,142 shares of the company's stock after purchasing an additional 266,834 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.12% of Beam Therapeutics worth $43,479,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Horizon Kinetics Asset Management LLC raised its position in shares of Beam Therapeutics by 4.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 9,597 shares of the company's stock worth $238,000 after acquiring an additional 403 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Beam Therapeutics by 6.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company's stock worth $198,000 after purchasing an additional 496 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Beam Therapeutics by 8.6% during the fourth quarter. Martingale Asset Management L P now owns 11,438 shares of the company's stock valued at $284,000 after buying an additional 909 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Beam Therapeutics by 0.8% in the 4th quarter. Swiss National Bank now owns 137,800 shares of the company's stock valued at $3,417,000 after buying an additional 1,100 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Beam Therapeutics by 23.9% in the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock worth $142,000 after buying an additional 1,102 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Insider Buying and Selling

In other Beam Therapeutics news, insider Christine Bellon sold 5,674 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $104,117.90. Following the completion of the transaction, the insider now owns 117,294 shares in the company, valued at approximately $2,152,344.90. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $136,413.90. Following the sale, 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. Over the last three months, insiders have sold 43,771 shares of company stock valued at $803,198. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

BEAM has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Bank of America upgraded shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research note on Friday, March 28th. Finally, Wedbush restated an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Beam Therapeutics has a consensus rating of "Buy" and an average price target of $49.45.

Beam Therapeutics Trading Up 2.1 %

Shares of NASDAQ BEAM traded up $0.41 during trading on Friday, reaching $20.24. 1,777,936 shares of the company traded hands, compared to its average volume of 1,393,939. The stock has a market cap of $2.04 billion, a P/E ratio of -11.50 and a beta of 2.02. The firm's fifty day simple moving average is $21.00 and its 200 day simple moving average is $24.56. Beam Therapeutics Inc. has a 12-month low of $13.53 and a 12-month high of $35.25.

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