ARCH Venture Management LLC Makes New Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

ARCH Venture Management LLC bought a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,443,039 shares of the company’s stock, valued at approximately $127,530,000. Beam Therapeutics makes up 46.5% of ARCH Venture Management LLC’s holdings, making the stock its largest position. ARCH Venture Management LLC owned 6.61% of Beam Therapeutics at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Riverview Trust Co purchased a new position in Beam Therapeutics during the 1st quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Beam Therapeutics during the second quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in shares of Beam Therapeutics by 2,648.4% in the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after acquiring an additional 1,642 shares during the period. PNC Financial Services Group Inc. raised its position in Beam Therapeutics by 144.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after purchasing an additional 923 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Beam Therapeutics by 200.0% in the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock valued at $69,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $24.72 on Tuesday. The company has a market cap of $2.03 billion, a P/E ratio of -13.89 and a beta of 1.86. Beam Therapeutics Inc. has a one year low of $16.95 and a one year high of $49.50. The business has a fifty day moving average of $26.28 and a two-hundred day moving average of $26.28.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. During the same quarter in the previous year, the firm earned ($1.08) earnings per share. The firm’s revenue was down 41.3% on a year-over-year basis. Sell-side analysts predict that Beam Therapeutics Inc. will post -4.6 EPS for the current year.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $24.50, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer now directly owns 998,343 shares of the company’s stock, valued at approximately $24,459,403.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BEAM shares. Stifel Nicolaus raised their price objective on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price target on Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays reduced their price objective on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Beam Therapeutics in a research note on Thursday, September 19th. Finally, Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.18.

About Beam Therapeutics

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.