SG Americas Securities LLC Decreases Stock Position in Beam Therapeutics Inc. $BEAM

SG Americas Securities LLC lessened its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 41.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,180 shares of the company’s stock after selling 43,289 shares during the period. SG Americas Securities LLC’s holdings in Beam Therapeutics were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Beam Therapeutics in the fourth quarter worth about $47,000. Larson Financial Group LLC grew its holdings in Beam Therapeutics by 4,370.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after buying an additional 1,923 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Beam Therapeutics during the 4th quarter valued at approximately $59,000. Van ECK Associates Corp increased its stake in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Beam Therapeutics in the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $34.79 on Friday. The business’s 50 day moving average is $31.07 and its two-hundred day moving average is $28.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. Beam Therapeutics Inc. has a 1-year low of $15.60 and a 1-year high of $36.88. The stock has a market capitalization of $3.58 billion, a P/E ratio of -51.16 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.12. The business had revenue of $31.74 million for the quarter, compared to the consensus estimate of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The company’s quarterly revenue was up 323.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.23) earnings per share. As a group, research analysts expect that Beam Therapeutics Inc. will post -4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BEAM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. Citigroup boosted their price target on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Sanford C. Bernstein decreased their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research note on Thursday, May 21st. Finally, Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

Insider Buying and Selling at Beam Therapeutics

In other news, insider Fmr Llc sold 251,488 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the transaction, the insider owned 854,583 shares of the company’s stock, valued at approximately $30,132,596.58. The trade was a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

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.