Fairfield Financial Advisors LTD Buys New Shares in Beam Therapeutics Inc. (NASDAQ:BEAM)

Fairfield Financial Advisors LTD bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,105 shares of the company’s stock, valued at approximately $26,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Beam Therapeutics by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock valued at $250,402,000 after purchasing an additional 413,892 shares during the last quarter. Farallon Capital Management LLC raised its stake in Beam Therapeutics by 9.9% during the 1st quarter. Farallon Capital Management LLC now owns 4,511,753 shares of the company’s stock valued at $149,068,000 after purchasing an additional 406,000 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in Beam Therapeutics during the 1st quarter valued at $70,032,000. Redmile Group LLC raised its stake in Beam Therapeutics by 31.5% during the 1st quarter. Redmile Group LLC now owns 1,879,617 shares of the company’s stock valued at $62,103,000 after purchasing an additional 449,834 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Beam Therapeutics by 3,137.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,246,189 shares of the company’s stock valued at $41,175,000 after purchasing an additional 1,207,699 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Performance

BEAM opened at $26.30 on Monday. The firm’s 50-day simple moving average is $26.22 and its 200-day simple moving average is $26.83. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -14.78 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.02. The firm had revenue of $11.80 million during the quarter, compared to analysts’ expectations of $14.18 million. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.08) EPS. As a group, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BEAM. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price target on shares of Beam Therapeutics in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, August 22nd. Barclays lowered their price target on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.18.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $24.50, for a total value of $1,470,000.00. Following the completion of the sale, the chief executive officer now owns 998,343 shares in the company, valued at approximately $24,459,403.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

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.