Mirae Asset Global Investments Co. Ltd. Purchases 524 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Mirae Asset Global Investments Co. Ltd. increased its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 21.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,981 shares of the company’s stock after acquiring an additional 524 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Beam Therapeutics were worth $75,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BEAM. Fairfield Financial Advisors LTD purchased a new stake in shares of Beam Therapeutics in the second quarter worth $26,000. Blue Trust Inc. boosted its stake in Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after buying an additional 1,642 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Beam Therapeutics by 144.0% in the fourth 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 in the last quarter. National Bank of Canada FI increased its holdings in shares of Beam Therapeutics by 200.0% in the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after buying an additional 2,000 shares during the last quarter. Finally, Quarry LP increased its position in shares of Beam Therapeutics by 350.0% during the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock valued at $84,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BEAM. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 6th. Scotiabank initiated coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective on the stock. Stifel Nicolaus lifted their target price on Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays cut their price target on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the transaction, the chief executive officer now directly owns 938,659 shares in the company, valued at $23,091,011.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the completion of the transaction, the president now directly owns 160,260 shares of the company’s stock, valued at approximately $4,210,030.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the completion of the sale, the chief executive officer now directly owns 938,659 shares in the company, valued at $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,784 shares of company stock valued at $2,834,485. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $24.36 on Tuesday. The stock has a market capitalization of $2.01 billion, a PE ratio of -13.46 and a beta of 1.87. Beam Therapeutics Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $49.50. The company has a 50 day moving average price of $24.27 and a 200-day moving average price of $24.62.

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

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.