Pictet Asset Management SA purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,213 shares of the company’s stock, valued at approximately $201,000.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Beam Therapeutics by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,712,010 shares of the company’s stock worth $269,999,000 after purchasing an additional 14,745 shares during the period. State Street Corp increased its holdings in shares of Beam Therapeutics by 68.4% during the second quarter. State Street Corp now owns 3,336,327 shares of the company’s stock worth $129,149,000 after purchasing an additional 1,354,781 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Beam Therapeutics by 15.0% during the second quarter. Goldman Sachs Group Inc. now owns 953,927 shares of the company’s stock worth $36,927,000 after purchasing an additional 124,680 shares during the period. Northern Trust Corp increased its holdings in shares of Beam Therapeutics by 21.9% during the second quarter. Northern Trust Corp now owns 562,103 shares of the company’s stock worth $21,759,000 after purchasing an additional 101,060 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Beam Therapeutics by 75.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 510,931 shares of the company’s stock worth $24,341,000 after purchasing an additional 218,969 shares during the period. 76.70% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Guggenheim lowered their target price on shares of Beam Therapeutics to $102.00 in a report on Tuesday, November 15th. BMO Capital Markets raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $61.00 to $66.00 in a research note on Tuesday, December 20th. Credit Suisse Group decreased their price objective on shares of Beam Therapeutics from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 8th. Cantor Fitzgerald started coverage on shares of Beam Therapeutics in a research note on Tuesday, January 31st. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, Citigroup started coverage on shares of Beam Therapeutics in a research note on Tuesday, December 13th. They issued a “buy” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.33.
Beam Therapeutics Price Performance
Beam Therapeutics (NASDAQ:BEAM – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.80. Beam Therapeutics had a negative net margin of 343.05% and a negative return on equity of 38.93%. The firm had revenue of $20.04 million for the quarter, compared to analyst estimates of $12.73 million. During the same quarter last year, the business posted ($0.95) earnings per share. The company’s quarterly revenue was down 60.8% on a year-over-year basis. On average, analysts expect that Beam Therapeutics Inc. will post -4.86 earnings per share for the current year.
Insider Buying and Selling at Beam Therapeutics
In other Beam Therapeutics news, insider Giuseppe Ciaramella sold 51,015 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $42.70, for a total value of $2,178,340.50. Following the sale, the insider now owns 91,462 shares in the company, valued at $3,905,427.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Giuseppe Ciaramella sold 51,015 shares of Beam Therapeutics stock in a transaction on Monday, December 12th. The shares were sold at an average price of $42.70, for a total transaction of $2,178,340.50. Following the transaction, the insider now owns 91,462 shares in the company, valued at $3,905,427.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Terry-Ann Burrell sold 14,810 shares of Beam Therapeutics stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $45.01, for a total transaction of $666,598.10. Following the transaction, the chief financial officer now owns 31,277 shares in the company, valued at approximately $1,407,777.77. The disclosure for this sale can be found here. Insiders have sold 114,122 shares of company stock worth $5,025,087 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
About Beam Therapeutics
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
- Get a free copy of the StockNews.com research report on Beam Therapeutics (BEAM)
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