Russell Investments Group Ltd. increased its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,220 shares of the company’s stock after acquiring an additional 894 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Beam Therapeutics worth $5,167,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. ARK Investment Management LLC increased its holdings in shares of Beam Therapeutics by 2.7% in the first quarter. ARK Investment Management LLC now owns 8,200,749 shares of the company’s stock worth $469,903,000 after acquiring an additional 217,348 shares in the last quarter. State Street Corp boosted its position in shares of Beam Therapeutics by 20.1% during the fourth quarter. State Street Corp now owns 1,683,163 shares of the company’s stock worth $134,131,000 after buying an additional 281,443 shares during the period. Geode Capital Management LLC boosted its position in Beam Therapeutics by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 848,589 shares of the company’s stock valued at $67,624,000 after purchasing an additional 25,695 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Beam Therapeutics by 17.0% during the fourth quarter. JPMorgan Chase & Co. now owns 733,094 shares of the company’s stock valued at $58,421,000 after purchasing an additional 106,582 shares during the last quarter. Finally, Deep Track Capital LP acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at approximately $55,783,000. Institutional investors own 68.80% of the company’s stock.
Insiders Place Their Bets
In other news, insider Fmr Llc sold 20,326 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $60.50, for a total value of $1,229,723.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Fmr Llc sold 20,326 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $60.50, for a total value of $1,229,723.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $65.75, for a total value of $1,972,500.00. Following the completion of the transaction, the chief executive officer now owns 1,088,520 shares in the company, valued at approximately $71,570,190. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
Beam Therapeutics Stock Performance
Shares of BEAM opened at $65.73 on Thursday. The stock has a 50 day moving average price of $49.44 and a two-hundred day moving average price of $52.08. The firm has a market capitalization of $4.62 billion, a P/E ratio of -18.21 and a beta of 1.76. Beam Therapeutics Inc. has a 52 week low of $27.77 and a 52 week high of $116.91.
Beam Therapeutics (NASDAQ:BEAM – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($1.02) EPS for the quarter, hitting analysts’ consensus estimates of ($1.02). The firm had revenue of $16.65 million during the quarter, compared to analyst estimates of $9.44 million. Beam Therapeutics had a negative return on equity of 28.02% and a negative net margin of 395.37%. The company’s revenue for the quarter was up 277433.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.23) EPS. On average, equities analysts forecast that Beam Therapeutics Inc. will post -4.26 earnings per share for the current year.
Analysts Set New Price Targets
BEAM has been the topic of a number of recent research reports. SVB Leerink lowered their target price on Beam Therapeutics from $118.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday. Credit Suisse Group initiated coverage on Beam Therapeutics in a research note on Thursday, April 28th. They issued a “neutral” rating and a $62.00 price target on the stock. Barclays raised their price objective on Beam Therapeutics from $38.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Beam Therapeutics in a report on Monday, August 1st. Finally, BMO Capital Markets lifted their target price on Beam Therapeutics from $41.00 to $61.00 in a report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Beam Therapeutics has an average rating of “Moderate Buy” and an average price target of $99.50.
Beam Therapeutics Company Profile
Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.
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