Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 21.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,981 shares of the company’s stock after buying 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 hedge funds have also modified their holdings of BEAM. Fairfield Financial Advisors LTD purchased a new position in Beam Therapeutics during the second quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in shares of Beam Therapeutics by 2,648.4% during the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock worth $40,000 after purchasing an additional 1,642 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after acquiring an additional 923 shares during the last quarter. National Bank of Canada FI increased its holdings 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. Finally, Quarry LP raised its holdings in shares of Beam Therapeutics by 350.0% in the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock valued at $84,000 after buying an additional 2,800 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Up 6.2 %

NASDAQ:BEAM opened at $24.36 on Tuesday. The stock has a fifty day simple moving average of $24.27 and a 200-day simple moving average of $24.62. Beam Therapeutics Inc. has a 52-week low of $18.85 and a 52-week high of $49.50. The company has a market capitalization of $2.01 billion, a PE ratio of -13.46 and a beta of 1.87.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results 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 business had revenue of $11.80 million during the quarter, compared to the consensus estimate of $14.18 million. During the same period in the previous year, the firm posted ($1.08) earnings per share. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. As a group, equities analysts anticipate that Beam Therapeutics Inc. will post -4.6 earnings per share for the current year.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of Beam Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the transaction, the president now owns 160,260 shares in the company, valued at $4,210,030.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, President Giuseppe Ciaramella sold 51,110 shares of the company’s stock in a transaction 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 sale, the president now directly owns 160,260 shares of the company’s stock, valued at approximately $4,210,030.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $24.60, for a total value of $1,476,000.00. Following the completion of the transaction, 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 ninety days, insiders sold 111,784 shares of company stock worth $2,834,485. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BEAM. Scotiabank began coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 target price on shares of Beam Therapeutics in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price objective on Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Beam Therapeutics Company 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.