Vanguard Group Inc. Sells 455,440 Shares of Beam Therapeutics Inc. $BEAM

Vanguard Group Inc. reduced its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 4.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,250,784 shares of the company’s stock after selling 455,440 shares during the quarter. Vanguard Group Inc. owned approximately 9.12% of Beam Therapeutics worth $224,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of 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 during the last quarter. Daiwa Securities Group Inc. increased its holdings in Beam Therapeutics by 1,248.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock valued at $65,000 after purchasing an additional 3,534 shares during the period. SBI Securities Co. Ltd. raised its position in Beam Therapeutics by 300.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,009 shares of the company’s stock valued at $97,000 after purchasing an additional 3,007 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Beam Therapeutics in the 3rd quarter worth approximately $114,000. Finally, Gallagher Fiduciary Advisors LLC bought a new stake in shares of Beam Therapeutics in the 2nd quarter worth approximately $200,000. Institutional investors own 99.68% of the company’s stock.

Insider Activity at Beam Therapeutics

In other news, insider Christine Bellon sold 1,371 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $34.00, for a total value of $46,614.00. Following the completion of the transaction, the insider owned 95,667 shares in the company, valued at $3,252,678. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.50% of the company’s stock.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $28.46 on Monday. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $36.44. The firm’s 50-day moving average is $28.91 and its 200 day moving average is $25.24. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -28.18 and a beta of 2.12.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $3.46. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The business had revenue of $114.11 million during the quarter, compared to analysts’ expectations of $13.22 million. During the same period in the previous year, the company earned ($1.09) earnings per share. The business’s revenue for the quarter was up 280.3% compared to the same quarter last year. On average, equities analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

BEAM has been the subject of a number of research analyst reports. Benchmark reaffirmed a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Wedbush boosted their price target on shares of Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Tudor Pickering set a $41.00 price target on shares of Beam Therapeutics in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.19.

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.