Swiss National Bank Acquires 1,100 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Swiss National Bank raised its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,800 shares of the company’s stock after buying an additional 1,100 shares during the period. Swiss National Bank owned 0.17% of Beam Therapeutics worth $3,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BEAM. ARK Investment Management LLC increased its holdings in shares of Beam Therapeutics by 8.2% during the 4th quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company’s stock valued at $175,287,000 after acquiring an additional 536,930 shares during the last quarter. State Street Corp raised its position in shares of Beam Therapeutics by 12.5% in the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock valued at $96,274,000 after purchasing an additional 437,402 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Beam Therapeutics by 11.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock worth $98,149,000 after buying an additional 404,782 shares during the last quarter. Peregrine Investment Management Inc. acquired a new stake in shares of Beam Therapeutics in the fourth quarter worth $3,932,000. Finally, Bellevue Group AG boosted its holdings in shares of Beam Therapeutics by 7.1% during the 3rd quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock worth $37,194,000 after buying an additional 100,000 shares during the period. 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 research analyst reports. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, March 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Guggenheim restated a “buy” rating and set a $78.00 target price on shares of Beam Therapeutics in a research note on Thursday, February 27th. Scotiabank raised Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target on the stock in a research report on Monday, March 10th. Finally, Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $50.82.

Insider Transactions at Beam Therapeutics

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

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $21.91 on Thursday. Beam Therapeutics Inc. has a 52-week low of $20.84 and a 52-week high of $35.25. The firm has a market capitalization of $2.19 billion, a PE ratio of -12.45 and a beta of 1.91. The company’s fifty day moving average price is $26.70 and its two-hundred day moving average price is $25.90.

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