Vestmark Advisory Solutions Inc. Acquires 168,479 Shares of Beam Therapeutics Inc. $BEAM

Vestmark Advisory Solutions Inc. increased its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 109.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,000 shares of the company’s stock after buying an additional 168,479 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Beam Therapeutics were worth $5,494,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Beam Therapeutics by 79.8% during the first quarter. CWM LLC now owns 2,684 shares of the company’s stock worth $52,000 after buying an additional 1,191 shares during the period. Amalgamated Bank boosted its position in Beam Therapeutics by 20.4% during the first quarter. Amalgamated Bank now owns 3,153 shares of the company’s stock worth $62,000 after purchasing an additional 534 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Beam Therapeutics by 43.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after purchasing an additional 1,175 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Beam Therapeutics in the first quarter valued at approximately $87,000. Finally, Quarry LP raised its stake in shares of Beam Therapeutics by 200.0% during the 1st quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $88,000 after buying an additional 3,000 shares during the period. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Trading Down 4.1%

NASDAQ:BEAM opened at $22.21 on Friday. The company has a market cap of $2.25 billion, a P/E ratio of -5.01 and a beta of 2.40. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $35.25. The company’s 50-day moving average price is $23.98 and its 200-day moving average price is $20.25.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The business had revenue of $9.70 million during the quarter, compared to analyst estimates of $12.83 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The firm’s revenue was down 32.2% on a year-over-year basis. On average, analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BEAM. Jefferies Financial Group began coverage on shares of Beam Therapeutics in a research note on Thursday, October 9th. They issued a “buy” rating and a $41.00 price target on the stock. Wall Street Zen lowered shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Friday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Finally, Cantor Fitzgerald upgraded Beam Therapeutics to a “strong-buy” rating in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Beam Therapeutics Company Profile

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.