Swiss National Bank boosted its stake in Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) by 59.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 128,500 shares of the company’s stock after acquiring an additional 47,900 shares during the quarter. Swiss National Bank’s holdings in Beam Therapeutics were worth $4,974,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in Beam Therapeutics by 60.4% in the 2nd quarter. Arizona State Retirement System now owns 14,772 shares of the company’s stock valued at $572,000 after acquiring an additional 5,563 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in Beam Therapeutics by 23.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 38,796 shares of the company’s stock valued at $2,223,000 after purchasing an additional 7,488 shares in the last quarter. CWM LLC lifted its holdings in Beam Therapeutics by 204,966.7% in the 2nd quarter. CWM LLC now owns 36,912 shares of the company’s stock valued at $1,429,000 after purchasing an additional 36,894 shares in the last quarter. Seven Eight Capital LP purchased a new position in Beam Therapeutics in the 2nd quarter valued at $229,000. Finally, Lazard Asset Management LLC lifted its holdings in Beam Therapeutics by 52.5% in the 2nd quarter. Lazard Asset Management LLC now owns 108,032 shares of the company’s stock valued at $4,181,000 after purchasing an additional 37,182 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Beam Therapeutics in a report on Monday, August 1st. Guggenheim decreased their price objective on Beam Therapeutics to $102.00 in a report on Tuesday, November 15th. SVB Leerink decreased their price objective on Beam Therapeutics from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Monday, November 7th. 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, August 10th. Finally, Credit Suisse Group reduced their price target on Beam Therapeutics from $65.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.17.
Insider Activity at Beam Therapeutics
Beam Therapeutics Stock Up 0.6 %
NASDAQ BEAM opened at $45.70 on Friday. Beam Therapeutics Inc. has a 52 week low of $27.77 and a 52 week high of $88.18. The business’s fifty day simple moving average is $47.02 and its 200-day simple moving average is $48.12. The firm has a market cap of $3.22 billion, a PE ratio of -10.07 and a beta of 1.67.
Beam Therapeutics (NASDAQ:BEAM – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.47). The company had revenue of $15.80 million during the quarter, compared to analysts’ expectations of $7.15 million. Beam Therapeutics had a negative net margin of 343.05% and a negative return on equity of 38.93%. The firm’s quarterly revenue was up 1875.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) earnings per share. Research analysts expect that Beam Therapeutics Inc. will post -4.87 EPS for the current year.
Beam Therapeutics 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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