Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,174 shares of the company’s stock after purchasing an additional 704 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Beam Therapeutics were worth $495,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Beam Therapeutics by 163.7% in the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock valued at $27,000 after buying an additional 686 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Beam Therapeutics by 125.9% in the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after buying an additional 554 shares during the period. National Bank of Canada FI lifted its holdings in shares of Beam Therapeutics by 200.0% in the 4th quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $41,000 after acquiring an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Beam Therapeutics by 84.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $55,000 after buying an additional 1,037 shares during the period. Finally, Signaturefd LLC boosted its holdings in Beam Therapeutics by 4,605.3% during the 3rd quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after acquiring an additional 2,625 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Price Performance

Shares of BEAM traded down $0.29 during mid-day trading on Wednesday, reaching $22.24. 1,020,204 shares of the company’s stock were exchanged, compared to its average volume of 1,424,351. The business’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $28.16. The stock has a market capitalization of $1.83 billion, a PE ratio of -11.71 and a beta of 1.88. Beam Therapeutics Inc. has a 52-week low of $16.95 and a 52-week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.21. The firm had revenue of $7.40 million during the quarter, compared to analysts’ expectations of $17.09 million. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. Beam Therapeutics’s quarterly revenue was down 69.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.33) EPS. Equities research analysts predict that Beam Therapeutics Inc. will post -5.53 earnings per share for the current year.

Insider Buying and Selling

In other Beam Therapeutics news, insider Amy Simon sold 7,157 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.13, for a total transaction of $229,954.41. Following the completion of the sale, the insider now directly owns 86,590 shares of the company’s stock, valued at approximately $2,782,136.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Amy Simon sold 7,157 shares of Beam Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.13, for a total value of $229,954.41. Following the transaction, the insider now directly owns 86,590 shares in the company, valued at approximately $2,782,136.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Terry-Ann Burrell sold 5,446 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.12, for a total transaction of $174,925.52. Following the transaction, the chief financial officer now owns 70,137 shares of the company’s stock, valued at approximately $2,252,800.44. The disclosure for this sale can be found here. Insiders have sold a total of 96,804 shares of company stock valued at $3,211,869 over the last quarter. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on BEAM. BMO Capital Markets restated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on shares of Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised Beam Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $38.00 to $40.00 in a report on Monday, January 29th. Barclays decreased their price target on Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.18.

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.