Signaturefd LLC Sells 1,661 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Signaturefd LLC lowered its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 61.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,021 shares of the company’s stock after selling 1,661 shares during the period. Signaturefd LLC’s holdings in Beam Therapeutics were worth $28,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP grew its position in Beam Therapeutics by 163.7% during the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after acquiring an additional 686 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Beam Therapeutics by 84.0% in the 3rd 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 during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Beam Therapeutics by 70.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after buying an additional 1,364 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Beam Therapeutics in the 3rd quarter valued at about $144,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Beam Therapeutics in the 4th quarter valued at about $216,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

BEAM stock opened at $23.13 on Friday. The stock’s 50 day simple moving average is $30.98 and its 200 day simple moving average is $28.04. Beam Therapeutics Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $49.50. The company has a market cap of $1.90 billion, a P/E ratio of -12.17 and a beta of 1.88.

Beam Therapeutics (NASDAQ:BEAM) last posted 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. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The business had revenue of $316.20 million for the quarter, compared to the consensus estimate of $34.16 million. During the same period in the prior year, the business earned ($0.54) EPS. The firm’s revenue for the quarter was up 1481.0% on a year-over-year basis. Equities analysts predict that Beam Therapeutics Inc. will post -5.53 earnings per share for the current year.

Analysts Set New Price Targets

BEAM has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research report on Wednesday, March 27th. Barclays upped their price target on Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Royal Bank of Canada upped their target price on Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upgraded Beam Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $38.00 to $40.00 in a research report on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.00.

Insider Buying and Selling

In other news, insider Amy Simon sold 7,157 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the sale, the insider now directly owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Amy Simon sold 7,157 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the sale, the insider now directly owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Giuseppe Ciaramella sold 4,534 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the sale, the president now directly owns 169,616 shares of the company’s stock, valued at $5,448,065.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,804 shares of company stock valued at $3,211,869. 4.20% of the stock is owned by company insiders.

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.