Beam Therapeutics Inc. (NASDAQ:BEAM) Stock Holdings Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAMGet Rating) by 34.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,308 shares of the company’s stock after selling 4,406 shares during the period. Janney Montgomery Scott LLC’s holdings in Beam Therapeutics were worth $396,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BEAM. Envestnet Asset Management Inc. bought a new stake in shares of Beam Therapeutics during the 1st quarter worth about $204,000. Raymond James & Associates boosted its stake in shares of Beam Therapeutics by 43.6% during the 1st quarter. Raymond James & Associates now owns 4,163 shares of the company’s stock worth $239,000 after acquiring an additional 1,263 shares in the last quarter. US Bancorp DE boosted its stake in shares of Beam Therapeutics by 5.6% during the 1st quarter. US Bancorp DE now owns 10,802 shares of the company’s stock worth $619,000 after acquiring an additional 571 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Beam Therapeutics by 15.3% during the 1st quarter. HighTower Advisors LLC now owns 4,352 shares of the company’s stock worth $251,000 after acquiring an additional 576 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Beam Therapeutics by 56.8% during the 1st quarter. MetLife Investment Management LLC now owns 27,129 shares of the company’s stock worth $1,554,000 after acquiring an additional 9,829 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BEAM shares. SVB Leerink cut their price objective on Beam Therapeutics from $81.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday. Guggenheim cut their price objective on Beam Therapeutics to $102.00 in a research report on Tuesday, November 15th. Credit Suisse Group cut their price objective on Beam Therapeutics from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, November 8th. BMO Capital Markets raised Beam Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $61.00 to $66.00 in a research report on Tuesday, December 20th. Finally, Citigroup assumed coverage on Beam Therapeutics in a research report on Tuesday, December 13th. They set a “buy” rating and a $62.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.29.

Insider Activity

In other news, insider Giuseppe Ciaramella sold 51,015 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $42.70, for a total value of $2,178,340.50. Following the sale, the insider now directly owns 91,462 shares in the company, valued at approximately $3,905,427.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Giuseppe Ciaramella sold 51,015 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $42.70, for a total value of $2,178,340.50. Following the sale, the insider now directly owns 91,462 shares in the company, valued at approximately $3,905,427.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $46.31, for a total value of $1,389,300.00. Following the completion of the sale, the chief executive officer now owns 1,058,520 shares in the company, valued at $49,020,061.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,210 shares of company stock worth $5,698,023. Company insiders own 4.00% of the company’s stock.

Beam Therapeutics Stock Down 0.3 %

Beam Therapeutics stock opened at $44.39 on Tuesday. The business has a 50 day moving average price of $43.00 and a two-hundred day moving average price of $49.97. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -9.78 and a beta of 1.69. Beam Therapeutics Inc. has a 12 month low of $27.77 and a 12 month high of $80.00.

Beam Therapeutics (NASDAQ:BEAMGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.26). The firm had revenue of $15.80 million during the quarter, compared to analyst estimates of $7.15 million. Beam Therapeutics had a negative net margin of 343.05% and a negative return on equity of 38.93%. The company’s revenue was up 1875.0% on a year-over-year basis. During the same period last year, the company earned ($0.42) EPS. On average, analysts expect that Beam Therapeutics Inc. will post -4.87 earnings per share for the current fiscal year.

Beam Therapeutics Company Profile

(Get Rating)

Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.

Read More

Want to see what other hedge funds are holding BEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beam Therapeutics Inc. (NASDAQ:BEAMGet Rating).

Institutional Ownership by Quarter for Beam Therapeutics (NASDAQ:BEAM)

Receive News & Ratings for Beam Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beam Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.