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 bought a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,287 shares of the company’s stock, valued at approximately $330,000.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. boosted its stake in Beam Therapeutics by 84.0% during the 3rd quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock worth $73,000 after purchasing an additional 1,431 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Beam Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after purchasing an additional 524 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Beam Therapeutics during the 3rd quarter worth $98,000. KBC Group NV boosted its stake in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after purchasing an additional 2,104 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Beam Therapeutics by 23.9% during the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock worth $142,000 after purchasing an additional 1,102 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Stock Down 2.8 %

Shares of BEAM opened at $33.14 on Friday. The company has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $25.77. The company has a market capitalization of $2.74 billion, a PE ratio of -18.83 and a beta of 1.92. Beam Therapeutics Inc. has a 52-week low of $20.84 and a 52-week high of $49.50.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BEAM shares. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, January 13th. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $39.00 in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.67.

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.