C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $330,000 Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,287 shares of the company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Beam Therapeutics by 11.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock worth $98,149,000 after purchasing an additional 404,782 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Beam Therapeutics by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,794 shares of the company’s stock worth $441,000 after buying an additional 1,707 shares during the last quarter. KBC Group NV increased its stake in shares of Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after buying an additional 2,104 shares during the period. Blue Trust Inc. increased its position in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after purchasing an additional 1,139 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Beam Therapeutics by 19.4% in the 4th quarter. SG Americas Securities LLC now owns 12,118 shares of the company’s stock worth $301,000 after purchasing an additional 1,971 shares during the period. Institutional investors own 99.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John M. Evans sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares in the company, valued at $24,306,628.25. This represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the sale, the insider now owns 102,968 shares of the company’s stock, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Beam Therapeutics Stock Up 0.1 %

Shares of BEAM stock opened at $28.61 on Friday. The firm has a market capitalization of $2.37 billion, a PE ratio of -16.26 and a beta of 1.92. The company has a 50 day moving average price of $26.53 and a 200-day moving average price of $25.66. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $49.50.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Cantor Fitzgerald raised Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 29th. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $47.67.

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.