Vestmark Advisory Solutions Inc. Sells 156,703 Shares of Beam Therapeutics Inc. $BEAM

Vestmark Advisory Solutions Inc. lessened its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 48.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,297 shares of the company’s stock after selling 156,703 shares during the quarter. Vestmark Advisory Solutions Inc. owned approximately 0.16% of Beam Therapeutics worth $4,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BEAM. Jones Financial Companies Lllp increased its holdings in Beam Therapeutics by 55,780.0% in the first quarter. Jones Financial Companies Lllp now owns 33,528 shares of the company’s stock valued at $655,000 after purchasing an additional 33,468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Beam Therapeutics by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 438,529 shares of the company’s stock worth $8,564,000 after purchasing an additional 42,609 shares during the period. D.A. Davidson & CO. grew its stake in Beam Therapeutics by 20.9% during the second quarter. D.A. Davidson & CO. now owns 85,681 shares of the company’s stock worth $1,457,000 after purchasing an additional 14,824 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Beam Therapeutics by 10.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,729,444 shares of the company’s stock worth $80,448,000 after purchasing an additional 462,573 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Beam Therapeutics by 329.3% in the second quarter. AlphaQuest LLC now owns 35,469 shares of the company’s stock valued at $603,000 after buying an additional 27,207 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

BEAM has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Sanford C. Bernstein boosted their price objective on shares of Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen cut shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Tudor Pickering set a $41.00 price objective on shares of Beam Therapeutics in a report on Wednesday, January 21st. Finally, Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.69.

Beam Therapeutics Trading Up 2.7%

NASDAQ BEAM opened at $28.33 on Tuesday. The company’s 50 day moving average is $28.63 and its two-hundred day moving average is $24.89. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -6.40 and a beta of 2.12. Beam Therapeutics Inc. has a 12 month low of $13.52 and a 12 month high of $36.44.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $3.46. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The business had revenue of $114.11 million for the quarter, compared to analysts’ expectations of $13.22 million. Sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Insider Activity at Beam Therapeutics

In related news, insider Christine Bellon sold 18,629 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $34.61, for a total value of $644,749.69. Following the completion of the transaction, the insider owned 97,038 shares of the company’s stock, valued at approximately $3,358,485.18. This trade represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is owned by insiders.

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.