First Horizon Advisors Inc. Acquires 554 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

First Horizon Advisors Inc. raised its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 125.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 994 shares of the company’s stock after buying an additional 554 shares during the period. First Horizon Advisors Inc.’s holdings in Beam Therapeutics were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BEAM. Allworth Financial LP raised its holdings in shares of 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 purchasing an additional 686 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in 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 in the last quarter. Signaturefd LLC raised its stake in shares of Beam Therapeutics by 4,605.3% during the 3rd quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after purchasing an additional 2,625 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Beam Therapeutics by 70.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after acquiring an additional 1,364 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Beam Therapeutics in the 3rd quarter valued at $144,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Amy Simon sold 7,157 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $32.13, for a total transaction of $229,954.41. Following the completion of the transaction, the insider now owns 86,590 shares of the company’s stock, valued at approximately $2,782,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John M. Evans sold 60,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the sale, the chief executive officer now owns 998,262 shares in the company, valued at approximately $33,801,151.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy Simon sold 7,157 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.13, for a total transaction of $229,954.41. Following the completion of the sale, the insider now directly owns 86,590 shares in the company, valued at approximately $2,782,136.70. The disclosure for this sale can be found here. Insiders sold 96,804 shares of company stock worth $3,211,869 in the last three months. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $40.00 in a research report on Monday, January 29th. BMO Capital Markets reissued an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, March 27th. TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.18.

Beam Therapeutics Price Performance

NASDAQ:BEAM opened at $22.24 on Thursday. The business has a fifty day moving average price of $29.84 and a 200-day moving average price of $28.16. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -11.71 and a beta of 1.88. Beam Therapeutics Inc. has a one year low of $16.95 and a one year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.21. The firm had revenue of $7.40 million during the quarter, compared to analysts’ expectations of $17.09 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The company’s revenue for the quarter was down 69.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.33) earnings per share. On average, equities research analysts expect that Beam Therapeutics Inc. will post -5.53 earnings per share for the current fiscal year.

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.