Vestmark Advisory Solutions Inc. Cuts Stock Position in Beam Therapeutics Inc. $BEAM

Vestmark Advisory Solutions Inc. trimmed its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 48.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 166,297 shares of the company’s stock after selling 156,703 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Beam Therapeutics were worth $4,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEAM. Allworth Financial LP raised its position in Beam Therapeutics by 7,080.0% during the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock valued at $43,000 after acquiring an additional 2,478 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Beam Therapeutics by 1,248.8% in the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock valued at $65,000 after buying an additional 3,534 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Beam Therapeutics by 300.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,009 shares of the company’s stock worth $97,000 after purchasing an additional 3,007 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Beam Therapeutics during the third quarter worth $114,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Beam Therapeutics in the second quarter valued at about $200,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

BEAM has been the topic of a number of research reports. Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. Tudor Pickering set a $41.00 target price on Beam Therapeutics in a research note on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on Beam Therapeutics in a report on Friday. They set a “buy” rating and a $74.00 price objective on the stock. UBS Group began coverage on shares of Beam Therapeutics in a report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, Evercore initiated coverage on Beam Therapeutics in a research report on Monday, November 24th. They set an “outperform” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.69.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 1,371 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $34.00, for a total value of $46,614.00. Following the sale, the insider owned 95,667 shares in the company, valued at approximately $3,252,678. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Beam Therapeutics Price Performance

Shares of BEAM opened at $28.33 on Tuesday. The stock has a market cap of $2.87 billion, a PE ratio of -6.40 and a beta of 2.12. Beam Therapeutics Inc. has a 12 month low of $13.52 and a 12 month high of $36.44. The stock’s 50-day moving average is $28.63 and its two-hundred day moving average is $24.89.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of ($1.13) by $3.46. The company had revenue of $114.11 million during the quarter, compared to the consensus estimate of $13.22 million. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%. On average, research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Beam Therapeutics Profile

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.