Teacher Retirement System of Texas Grows Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Teacher Retirement System of Texas raised its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,767 shares of the company’s stock after acquiring an additional 3,222 shares during the quarter. Teacher Retirement System of Texas’ holdings in Beam Therapeutics were worth $515,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC bought a new position in shares of Beam Therapeutics during the fourth quarter valued at approximately $41,000. KBC Group NV grew its stake in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after buying an additional 2,104 shares during the last quarter. Blue Trust Inc. grew its stake in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after buying an additional 1,139 shares during the last quarter. GAMMA Investing LLC increased its position in Beam Therapeutics by 23.9% in 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 during the period. Finally, Quarry LP lifted its stake in Beam Therapeutics by 66.7% in the third quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $147,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Jones Trading upgraded shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, March 10th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 26th. 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 company has an average rating of “Buy” and an average price target of $49.45.

Insider Transactions at Beam Therapeutics

In other news, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total value of $30,627.88. Following the sale, the insider now directly owns 102,968 shares in the company, valued at $2,541,250.24. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $19.53 on Tuesday. The firm has a 50 day simple moving average of $26.57 and a 200 day simple moving average of $25.86. Beam Therapeutics Inc. has a fifty-two week low of $18.30 and a fifty-two week high of $35.25. The firm has a market cap of $1.95 billion, a P/E ratio of -11.10 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 company had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company’s revenue was down 90.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. On average, sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 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.