Atria Investments Inc Takes Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Atria Investments Inc purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the 3rd quarter, Holdings Channel reports. The firm purchased 8,167 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Beam Therapeutics during the second quarter worth approximately $3,683,000. Vanguard Group Inc. boosted its position in Beam Therapeutics by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock worth $250,402,000 after acquiring an additional 413,892 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Beam Therapeutics during the third quarter worth approximately $15,760,000. American Century Companies Inc. boosted its position in Beam Therapeutics by 33.2% during the second quarter. American Century Companies Inc. now owns 95,578 shares of the company’s stock worth $2,239,000 after acquiring an additional 23,837 shares during the last quarter. Finally, Liontrust Investment Partners LLP acquired a new stake in Beam Therapeutics during the second quarter worth approximately $1,874,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Activity

In related news, President Giuseppe Ciaramella sold 51,110 shares of Beam Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the sale, the president now owns 109,150 shares of the company’s stock, valued at $2,877,194. The trade was a 31.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares in the company, valued at $23,091,011.40. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,894 shares of company stock valued at $4,181,745. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BEAM shares. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $39.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, November 7th. Finally, Scotiabank started coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.91.

Beam Therapeutics Trading Up 6.2 %

Shares of BEAM stock opened at $25.05 on Monday. The company’s fifty day simple moving average is $24.51 and its 200-day simple moving average is $24.93. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $49.50. The company has a market cap of $2.07 billion, a PE ratio of -14.23 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, November 5th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business had revenue of $14.30 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same period in the prior year, the business posted ($1.22) EPS. The business’s revenue was down 16.9% on a year-over-year basis. Equities research analysts expect that Beam Therapeutics Inc. will post -4.66 EPS for the current fiscal year.

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.