Quarry LP Has $37,000 Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Quarry LP trimmed its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 75.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,500 shares of the company’s stock after selling 4,500 shares during the period. Quarry LP’s holdings in Beam Therapeutics were worth $37,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at $330,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Beam Therapeutics by 11.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock worth $98,149,000 after acquiring an additional 404,782 shares during the last quarter. Teacher Retirement System of Texas increased its position in Beam Therapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 20,767 shares of the company’s stock valued at $515,000 after acquiring an additional 3,222 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Beam Therapeutics by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,945 shares of the company’s stock worth $16,094,000 after acquiring an additional 19,453 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of Beam Therapeutics during the fourth quarter worth approximately $1,247,000. Institutional investors own 99.68% of the company’s stock.

Insider Activity at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 7,434 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $136,413.90. Following the completion of the transaction, the president now directly owns 190,216 shares in the company, valued at approximately $3,490,463.60. The trade was a 3.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John M. Evans sold 30,663 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the sale, the chief executive officer now owns 986,249 shares in the company, valued at $18,097,669.15. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,771 shares of company stock worth $803,198 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Price Performance

Shares of BEAM stock opened at $20.24 on Friday. The stock has a market cap of $2.04 billion, a PE ratio of -11.50 and a beta of 2.35. The stock has a 50-day moving average of $21.00 and a 200-day moving average of $24.54. Beam Therapeutics Inc. has a one year low of $13.53 and a one year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.16. The firm had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business’s quarterly revenue was down 90.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. As a group, research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 26th. Finally, Jones Trading upgraded shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $49.45.

Beam Therapeutics 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.