Charles Schwab Investment Management Inc. Has $16.09 Million Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Charles Schwab Investment Management Inc. lifted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 3.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 648,945 shares of the company’s stock after buying an additional 19,453 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.78% of Beam Therapeutics worth $16,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV lifted its holdings in shares of Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after buying an additional 2,104 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after buying an additional 1,139 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Beam Therapeutics by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock worth $142,000 after buying an additional 1,102 shares in the last quarter. Quarry LP lifted its holdings in shares of Beam Therapeutics by 66.7% during the third quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $147,000 after buying an additional 2,400 shares in the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Beam Therapeutics during the third quarter worth $200,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

BEAM has been the subject of a number of analyst reports. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. 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. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Two 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, the stock currently has an average rating of “Buy” and a consensus price target of $50.82.

Beam Therapeutics Stock Down 3.3 %

Beam Therapeutics stock opened at $22.87 on Friday. Beam Therapeutics Inc. has a 12-month low of $20.84 and a 12-month high of $36.75. The business’s 50-day moving average price is $26.82 and its two-hundred day moving average price is $25.93. The stock has a market cap of $2.28 billion, a PE ratio of -12.99 and a beta of 1.91.

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

Insider Activity at Beam Therapeutics

In other news, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares in the company, valued at approximately $24,306,628.25. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the transaction, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

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.