D.A. Davidson & CO. Has $1.32 Million Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

D.A. Davidson & CO. lifted its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,847 shares of the company’s stock after acquiring an additional 4,222 shares during the quarter. D.A. Davidson & CO. owned approximately 0.07% of Beam Therapeutics worth $1,319,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BEAM. ARCH Venture Management LLC acquired a new stake in shares of Beam Therapeutics in the second quarter worth $127,530,000. Farallon Capital Management LLC boosted its position in Beam Therapeutics by 75.4% during the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock worth $185,404,000 after acquiring an additional 3,401,370 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Beam Therapeutics by 59.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock worth $87,044,000 after acquiring an additional 1,328,414 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Beam Therapeutics by 63.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company’s stock valued at $24,589,000 after purchasing an additional 407,499 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Beam Therapeutics in the 2nd quarter valued at about $3,683,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Analyst Ratings Changes

BEAM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus boosted their price target on shares of Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Finally, Barclays cut their price target on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Beam Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $44.91.

Insider Buying and Selling at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Giuseppe Ciaramella sold 51,110 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total value of $1,347,259.60. Following the completion of the sale, the president now directly owns 109,150 shares in the company, valued at $2,877,194. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,894 shares of company stock worth $4,181,745 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Performance

BEAM opened at $27.37 on Friday. The firm has a market cap of $2.27 billion, a P/E ratio of -15.55 and a beta of 1.86. The business has a 50 day moving average price of $24.63 and a 200 day moving average price of $25.07. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm had revenue of $14.30 million for the quarter, compared to the consensus estimate of $14.52 million. During the same period in the prior year, the company posted ($1.22) earnings per share. Beam Therapeutics’s quarterly revenue was down 16.9% on a year-over-year basis. As a group, analysts anticipate that Beam Therapeutics Inc. will post -4.66 earnings per share 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.