SG Americas Securities LLC Acquires 60,249 Shares of Beam Therapeutics Inc. $BEAM

SG Americas Securities LLC boosted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 139.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,469 shares of the company’s stock after purchasing an additional 60,249 shares during the period. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $2,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BEAM. Arizona State Retirement System grew its stake in Beam Therapeutics by 2.2% during the third quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock valued at $650,000 after acquiring an additional 580 shares in the last quarter. Van ECK Associates Corp lifted its stake in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Beam Therapeutics by 3.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 32,728 shares of the company’s stock valued at $794,000 after purchasing an additional 1,072 shares during the period. Alliancebernstein L.P. boosted its holdings in Beam Therapeutics by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 100,720 shares of the company’s stock valued at $2,444,000 after purchasing an additional 1,300 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Beam Therapeutics by 5.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 29,762 shares of the company’s stock valued at $711,000 after purchasing an additional 1,602 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

BEAM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Canaccord Genuity Group started coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a “buy” rating and a $74.00 target price on the stock. Sanford C. Bernstein raised their price target on Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. UBS Group assumed coverage on Beam Therapeutics in a research report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Beam Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.36.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $22.37, for a total transaction of $559,250.00. Following the transaction, the chief executive officer directly owned 986,667 shares of the company’s stock, valued at approximately $22,071,740.79. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine Bellon sold 18,629 shares of Beam Therapeutics stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $34.61, for a total value of $644,749.69. Following the completion of the transaction, the insider owned 97,038 shares in the company, valued at approximately $3,358,485.18. This represents a 16.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,000 shares of company stock worth $1,250,614 over the last ninety days. Insiders own 3.50% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $24.66 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -24.42 and a beta of 2.18. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $36.44. The firm has a 50 day moving average price of $26.65 and a 200-day moving average price of $26.38.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of ($1.13) by $3.46. The company had revenue of $114.11 million for the quarter, compared to analyst estimates of $13.22 million. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The firm’s quarterly revenue was up 280.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.09) EPS. As a group, equities research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

About Beam Therapeutics

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.