D.A. Davidson & CO. Buys 8,321 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

D.A. Davidson & CO. raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAMFree Report) by 45.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,545 shares of the company’s stock after acquiring an additional 8,321 shares during the period. D.A. Davidson & CO.’s holdings in Beam Therapeutics were worth $638,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Beam Therapeutics by 163.7% in the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock valued at $27,000 after buying an additional 686 shares in the last quarter. Point72 Middle East FZE bought a new position in Beam Therapeutics in the fourth quarter valued at approximately $35,000. China Universal Asset Management Co. Ltd. lifted its stake in Beam Therapeutics by 84.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $55,000 after buying an additional 1,037 shares in the last quarter. Signaturefd LLC lifted its stake in Beam Therapeutics by 4,605.3% in the third quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after buying an additional 2,625 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Beam Therapeutics by 29.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,506 shares of the company’s stock worth $80,000 after purchasing an additional 574 shares in the last quarter. Institutional investors own 80.64% of the company’s stock.

Insider Activity

In other news, CEO John M. Evans sold 60,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christine Bellon sold 1,907 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $26.42, for a total transaction of $50,382.94. Following the transaction, the insider now directly owns 80,495 shares in the company, valued at $2,126,677.90. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Cantor Fitzgerald lowered shares of Beam Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, October 20th. William Blair reissued an “outperform” rating on shares of Beam Therapeutics in a research report on Tuesday, October 31st. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price objective (down previously from $75.00) on shares of Beam Therapeutics in a research report on Friday, December 8th. SVB Leerink lowered shares of Beam Therapeutics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $75.00 to $20.00 in a research report on Friday, October 20th. Finally, Bank of America lowered shares of Beam Therapeutics from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Friday, December 15th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.92.

Check Out Our Latest Analysis on BEAM

Beam Therapeutics Price Performance

Shares of BEAM opened at $33.40 on Tuesday. The firm has a market capitalization of $2.72 billion, a PE ratio of -8.01 and a beta of 1.66. The company’s 50-day moving average is $27.00 and its 200-day moving average is $25.24. Beam Therapeutics Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $44.49.

Beam Therapeutics Company Profile

(Free Report)

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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.

Featured Stories

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:BEAMFree Report).

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.