Jump Financial LLC Boosts Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Jump Financial LLC lifted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAMFree Report) by 18.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,330 shares of the company’s stock after purchasing an additional 5,105 shares during the period. Jump Financial LLC’s holdings in Beam Therapeutics were worth $778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arizona State Retirement System lifted its stake in Beam Therapeutics by 13.4% during the third quarter. Arizona State Retirement System now owns 18,446 shares of the company’s stock worth $444,000 after purchasing an additional 2,178 shares during the last quarter. Capula Management Ltd purchased a new stake in Beam Therapeutics during the third quarter worth approximately $916,000. Signaturefd LLC lifted its stake in Beam Therapeutics by 4,605.3% in the third quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after buying an additional 2,625 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Beam Therapeutics by 70.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after buying an additional 1,364 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Beam Therapeutics in the third quarter valued at approximately $144,000. 80.64% of the stock is owned by institutional investors and hedge funds.

Beam Therapeutics Stock Down 1.1 %

BEAM opened at $27.57 on Thursday. The firm has a market cap of $2.25 billion, a P/E ratio of -6.61 and a beta of 1.66. Beam Therapeutics Inc. has a 52 week low of $16.95 and a 52 week high of $47.99. The business’s fifty day simple moving average is $27.01 and its 200 day simple moving average is $25.33.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported ($1.22) earnings per share for the quarter, topping the consensus estimate of ($1.33) by $0.11. The firm had revenue of $17.20 million for the quarter, compared to the consensus estimate of $17.09 million. Beam Therapeutics had a negative return on equity of 40.66% and a negative net margin of 384.62%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.56) earnings per share. As a group, equities analysts expect that Beam Therapeutics Inc. will post -4.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BEAM shares. SVB Leerink cut Beam Therapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $75.00 to $20.00 in a research note on Friday, October 20th. Leerink Partnrs cut Beam Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, October 20th. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down previously from $75.00) on shares of Beam Therapeutics in a research note on Friday, December 8th. Cantor Fitzgerald cut Beam Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Friday, October 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Beam Therapeutics in a report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.92.

Read Our Latest Analysis on BEAM

Insider Activity

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the sale, the chief executive officer now owns 1,058,262 shares of the company’s stock, valued at approximately $26,805,776.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christine Bellon sold 1,907 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $26.42, for a total value of $50,382.94. Following the sale, the insider now owns 80,495 shares of the company’s stock, valued at approximately $2,126,677.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,058,262 shares in the company, valued at approximately $26,805,776.46. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Beam 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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.

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Want to see what other hedge funds are holding BEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beam Therapeutics Inc. (NASDAQ:BEAMFree Report).

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

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