By otakuyassine3@gmail.com 
ExodusPoint Capital Management LP acquired a new position in Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,359 shares of the company’s stock, valued at approximately $331,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealthfront Advisers LLC purchased a new position in shares of Beam Therapeutics in the fourth quarter worth $41,000. KBC Group NV raised its position in Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after buying an additional 2,104 shares during the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 1,139 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Beam Therapeutics by 23.9% during the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of Beam Therapeutics by 17.1% in the fourth quarter. Atria Investments Inc now owns 9,562 shares of the company’s stock worth $237,000 after acquiring an additional 1,395 shares during the period. 99.68% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on BEAM shares. Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price on the stock in a report on Monday, March 10th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Guggenheim reissued a “buy” rating and issued a $78.00 target price on shares of Beam Therapeutics in a report on Thursday, February 27th. Royal Bank of Canada boosted their price target on Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Beam Therapeutics currently has an average rating of “Buy” and an average target price of $49.45.
Read Our Latest Report on BEAM
Beam Therapeutics Price Performance
Shares of BEAM stock opened at $15.47 on Friday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.79 and a beta of 2.02. The company’s fifty day moving average price is $24.37 and its 200-day moving average price is $25.13. Beam Therapeutics Inc. has a one year low of $13.53 and a one year high of $35.25.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS 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 business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. During the same period in the previous year, the business earned $1.73 earnings per share. The business’s revenue was down 90.5% on a year-over-year basis. Equities research analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Christine Bellon sold 5,674 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the transaction, the insider now owns 117,294 shares in the company, valued at approximately $2,152,344.90. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John M. Evans sold 30,663 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $562,666.05. Following the transaction, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at $18,097,669.15. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,771 shares of company stock worth $1,605,698 in the last three months. 4.20% of the stock is owned by company insiders.
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.
Further Reading
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