Victory Capital Management Inc. Has $38.78 Million Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Victory Capital Management Inc. raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAMGet Rating) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 685,186 shares of the company’s stock after acquiring an additional 107,516 shares during the quarter. Victory Capital Management Inc. owned about 0.98% of Beam Therapeutics worth $38,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFC Financial Management increased its position in Beam Therapeutics by 111.1% in the 4th quarter. TFC Financial Management now owns 570 shares of the company’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. Cutler Group LP increased its position in Beam Therapeutics by 825.0% in the 1st quarter. Cutler Group LP now owns 925 shares of the company’s stock valued at $53,000 after acquiring an additional 825 shares in the last quarter. Kessler Investment Group LLC acquired a new stake in Beam Therapeutics in the 1st quarter valued at about $58,000. Compagnie Lombard Odier SCmA acquired a new stake in Beam Therapeutics in the 1st quarter valued at about $62,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Beam Therapeutics in the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 68.80% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $58.84 on Tuesday. The firm has a 50 day moving average price of $45.41 and a 200 day moving average price of $51.96. Beam Therapeutics Inc. has a 52-week low of $27.77 and a 52-week high of $116.91.

Beam Therapeutics (NASDAQ:BEAMGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.09. The firm had revenue of $8.40 million during the quarter, compared to analysts’ expectations of $44.15 million. Beam Therapeutics had a negative net margin of 395.37% and a negative return on equity of 28.02%. The business’s revenue for the quarter was up 139900.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.35) earnings per share. On average, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.26 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the business’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 transaction 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 $71,570,190. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BEAM shares. Credit Suisse Group started coverage on shares of Beam Therapeutics in a research report on Thursday, April 28th. They set a “neutral” rating and a $62.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Beam Therapeutics in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of Beam Therapeutics from $41.00 to $61.00 in a research report on Monday, July 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.29.

About Beam Therapeutics

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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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Institutional Ownership by Quarter for Beam Therapeutics (NASDAQ:BEAM)

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