Intech Investment Management LLC Has $729,000 Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

Intech Investment Management LLC boosted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 40.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,401 shares of the company’s stock after buying an additional 8,509 shares during the period. Intech Investment Management LLC’s holdings in Beam Therapeutics were worth $729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BEAM. Nikko Asset Management Americas Inc. lifted its stake in shares of Beam Therapeutics by 11.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock valued at $98,109,000 after purchasing an additional 404,782 shares during the period. Horizon Kinetics Asset Management LLC increased its holdings in Beam Therapeutics by 4.4% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 9,597 shares of the company’s stock valued at $238,000 after purchasing an additional 403 shares during the last quarter. Swiss National Bank lifted its stake in Beam Therapeutics by 0.8% in the fourth quarter. Swiss National Bank now owns 137,800 shares of the company’s stock valued at $3,417,000 after buying an additional 1,100 shares during the period. Wealthfront Advisers LLC bought a new position in Beam Therapeutics during the fourth quarter worth about $41,000. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Beam Therapeutics by 29.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 173,152 shares of the company’s stock worth $4,482,000 after buying an additional 39,250 shares during the period. 99.68% of the stock is owned by institutional investors.

Beam Therapeutics Stock Up 1.9 %

NASDAQ BEAM opened at $23.30 on Monday. Beam Therapeutics Inc. has a 12-month low of $20.84 and a 12-month high of $35.25. The firm’s 50 day moving average is $26.76 and its 200-day moving average is $25.93. The company has a market capitalization of $2.32 billion, a PE ratio of -13.24 and a beta of 1.91.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $16.47 million. During the same quarter last year, the company earned $1.73 EPS. Beam Therapeutics’s revenue for the quarter was down 90.5% compared to the same quarter last year. As a group, sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Wall Street Analyst Weigh In

BEAM has been the topic of several recent analyst reports. Scotiabank raised shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective on the stock in a research note on Monday, March 10th. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Sanford C. Bernstein upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $50.82.

Insider Buying and Selling

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

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.