MWG Caph Ltd bought a new position in Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,266,934 shares of the company’s stock, valued at approximately $35,119,000. Beam Therapeutics makes up about 48.5% of MWG Caph Ltd’s portfolio, making the stock its biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BEAM. Jones Financial Companies Lllp lifted its stake in Beam Therapeutics by 55,780.0% in the first quarter. Jones Financial Companies Lllp now owns 33,528 shares of the company’s stock valued at $655,000 after purchasing an additional 33,468 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Beam Therapeutics by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 438,529 shares of the company’s stock valued at $8,564,000 after purchasing an additional 42,609 shares during the last quarter. Prudential Financial Inc. purchased a new position in Beam Therapeutics in the second quarter valued at approximately $201,000. New York State Common Retirement Fund lifted its stake in Beam Therapeutics by 17.7% in the second quarter. New York State Common Retirement Fund now owns 30,629 shares of the company’s stock valued at $521,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Beam Therapeutics by 46.0% in the second quarter. Invesco Ltd. now owns 128,874 shares of the company’s stock valued at $2,192,000 after purchasing an additional 40,583 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on BEAM. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Thursday, May 21st. Royal Bank Of Canada upped their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Monday, April 20th. Canaccord Genuity Group began coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a “buy” rating and a $74.00 price objective on the stock. Finally, Wedbush upped their price objective on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.83.
Insider Buying and Selling at Beam Therapeutics
In other news, insider Christine Bellon sold 5,956 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $146,398.48. Following the transaction, the insider owned 109,711 shares of the company’s stock, valued at approximately $2,696,696.38. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amy Simon sold 6,700 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $164,686.00. Following the completion of the transaction, the insider directly owned 102,735 shares in the company, valued at approximately $2,525,226.30. The trade was a 6.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 79,544 shares of company stock worth $1,899,942. 3.80% of the stock is owned by insiders.
Beam Therapeutics Trading Up 4.8%
Shares of BEAM stock opened at $32.48 on Thursday. The company’s fifty day simple moving average is $29.83 and its two-hundred day simple moving average is $28.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. Beam Therapeutics Inc. has a 1 year low of $15.60 and a 1 year high of $36.44. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -47.76 and a beta of 2.25.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.12. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The business had revenue of $31.74 million for the quarter, compared to analysts’ expectations of $10.98 million. During the same quarter in the previous year, the firm posted ($1.23) EPS. The business’s revenue for the quarter was up 323.2% compared to the same quarter last year. As a group, analysts anticipate that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.
Beam Therapeutics Company Profile
Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.
Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.
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