35,414 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by BIT Capital GmbH

BIT Capital GmbH purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, HoldingsChannel reports. The fund purchased 35,414 shares of the company’s stock, valued at approximately $878,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BEAM. LPL Financial LLC grew its stake in shares of Beam Therapeutics by 5.6% in the 4th quarter. LPL Financial LLC now owns 27,698 shares of the company’s stock valued at $687,000 after buying an additional 1,462 shares during the period. KLP Kapitalforvaltning AS bought a new position in Beam Therapeutics in the fourth quarter worth approximately $332,000. American Century Companies Inc. grew its stake in Beam Therapeutics by 13.2% in the fourth quarter. American Century Companies Inc. now owns 135,380 shares of the company’s stock valued at $3,357,000 after acquiring an additional 15,774 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Beam Therapeutics by 18.4% during the fourth 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. Finally, Intech Investment Management LLC raised its position in shares of Beam Therapeutics by 40.7% during the fourth quarter. Intech Investment Management LLC now owns 29,401 shares of the company’s stock worth $729,000 after purchasing an additional 8,509 shares during the period. 99.68% of the stock is owned by institutional investors.

Insider Activity at Beam Therapeutics

In related news, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total value of $30,627.88. Following the sale, the insider now owns 102,968 shares of the company’s stock, valued at approximately $2,541,250.24. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Evans sold 30,000 shares of the stock in a transaction 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 directly owns 908,659 shares of the company’s stock, valued at approximately $24,306,628.25. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Beam Therapeutics Stock Down 5.6 %

Shares of NASDAQ BEAM opened at $21.91 on Thursday. The company has a market capitalization of $2.19 billion, a PE ratio of -12.45 and a beta of 1.91. The stock’s 50 day moving average price is $26.70 and its 200-day moving average price is $25.90. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.22% and a negative net margin of 41.07%. The business’s revenue for the quarter was down 90.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on BEAM. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $78.00 target price on shares of Beam Therapeutics in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Finally, Jones Trading raised Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics has a consensus rating of “Buy” and an average price target of $50.82.

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.