1 week Ago By Defense World Staff
Norges Bank purchased a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,591 shares of the company’s stock, valued at approximately $461,000.
A number of other large investors have also made changes to their positions in BEAM. ARK Investment Management LLC increased its stake in shares of Beam Therapeutics by 8.2% in the 4th quarter.
ARK Investment Management LLC now owns 7,068,029 shares of the company’s stock worth $175,287,000 after purchasing an additional 536,930 shares in the last quarter. State Street Corp increased its position in Beam Therapeutics by 12.5% in the third quarter.
State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after buying an additional 437,402 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Beam Therapeutics by 11.
4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock worth $98,149,000 after buying an additional 404,782 shares during the period.
Nikko Asset Management Americas Inc. lifted its position in shares of Beam Therapeutics by 11.4% during the 4th quarter.
Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock valued at $98,109,000 after buying an additional 404,782 shares in the last quarter. Finally, Peregrine Investment Management Inc.
bought a new position in shares of Beam Therapeutics during the 4th quarter valued at approximately $3,932,000. 99.68% of the stock is currently owned by institutional investors.
Beam Therapeutics Stock PerformanceNASDAQ BEAM opened at $15.47 on Friday. The stock has a 50 day moving average price of $24.
37 and a 200-day moving average price of $25.13. Beam Therapeutics Inc.
has a one year low of $13.53 and a one year high of $35.25.
The company has a market capitalization of $1.54 billion, a P/E ratio of -8.79 and a beta of 2.
02. Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.
09) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.16.
Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%.
The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million.
During the same quarter last year, the business earned $1.73 earnings per share. Beam Therapeutics’s quarterly revenue was down 90.
5% compared to the same quarter last year. As a group, equities analysts predict that Beam Therapeutics Inc. will post -4.
57 EPS for the current fiscal year. Insider Buying and SellingIn related news, insider Christine Bellon sold 5,674 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.
35, for a total value of $104,117.90. Following the completion of the sale, the insider now directly owns 117,294 shares in the company, valued at $2,152,344.
90. This trade represents a 4.61 % decrease in their ownership of the stock.
The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction on Tuesday, April 1st.
The stock was sold at an average price of $18.35, for a total transaction of $562,666.05.
Following the transaction, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at $18,097,669.15. The trade was a 3.
02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,771 shares of company stock worth $1,605,698.
Corporate insiders own 4.20% of the company’s stock. Wall Street Analyst Weigh InBEAM has been the subject of a number of recent analyst reports.
Bank of America upgraded shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $80.
00 target price on shares of Beam Therapeutics in a report on Monday, April 7th. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Monday, March 10th.
Guggenheim reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Beam Therapeutics in a research note on Thursday, February 27th. Finally, Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.
00 target price for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $49.
45.Get Our Latest Research Report on BEAMBeam Therapeutics Profile (Free Report)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.
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