Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 23.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,722 shares of the company’s stock after purchasing an additional 1,102 shares during the quarter. GAMMA Investing LLC’s holdings in Beam Therapeutics were worth $142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ARCH Venture Management LLC acquired a new stake in shares of Beam Therapeutics during the 2nd quarter valued at approximately $127,530,000. Farallon Capital Management LLC grew its holdings in shares of Beam Therapeutics by 75.4% in the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock worth $185,404,000 after acquiring an additional 3,401,370 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Beam Therapeutics by 59.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after purchasing an additional 1,328,414 shares in the last quarter. State Street Corp raised its holdings in Beam Therapeutics by 12.5% during the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after purchasing an additional 437,402 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Beam Therapeutics by 63.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company’s stock worth $24,589,000 after purchasing an additional 407,499 shares in the last quarter. 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. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Monday, December 9th. Cantor Fitzgerald upgraded Beam Therapeutics to a “hold” rating in a research report on Tuesday, December 10th. Finally, Scotiabank initiated coverage on Beam Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.67.

Beam Therapeutics Stock Performance

BEAM stock opened at $26.80 on Friday. The company has a 50 day moving average price of $26.55 and a two-hundred day moving average price of $25.66. The stock has a market capitalization of $2.22 billion, a P/E ratio of -15.23 and a beta of 1.92. Beam Therapeutics Inc. has a one year low of $20.84 and a one year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, November 5th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.01). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.52 million. During the same quarter in the previous year, the company posted ($1.22) earnings per share. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. Research analysts forecast that Beam Therapeutics Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the sale, the president now owns 109,150 shares of the company’s stock, valued at approximately $2,877,194. The trade was a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine Bellon sold 1,241 shares of the company’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 owns 102,968 shares of the company’s stock, valued at $2,541,250.24. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,461 shares of company stock valued at $2,720,547 in the last 90 days. 4.20% of the stock is currently owned by insiders.

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.