International Assets Investment Management LLC Purchases New Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

International Assets Investment Management LLC purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, HoldingsChannel reports. The firm purchased 68,050 shares of the company’s stock, valued at approximately $1,852,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Allworth Financial LP boosted its stake in Beam Therapeutics by 163.7% during the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after purchasing an additional 686 shares during the last quarter. Point72 Middle East FZE acquired a new position in Beam Therapeutics during the fourth quarter worth about $35,000. China Universal Asset Management Co. Ltd. grew its stake in Beam Therapeutics by 84.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $55,000 after acquiring an additional 1,037 shares in the last quarter. Signaturefd LLC raised its holdings in Beam Therapeutics by 4,605.3% in the 3rd quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Beam Therapeutics by 70.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock worth $80,000 after purchasing an additional 1,364 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Analysts Set New Price Targets

BEAM has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $40.00 in a research note on Monday, January 29th. Wedbush reissued an “outperform” rating and issued a $57.00 target price (up from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. Royal Bank of Canada raised their target price on shares of Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. TheStreet raised shares of Beam Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 11th. Finally, Barclays lifted their price target on shares of Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Hold” and an average target price of $41.00.

Beam Therapeutics Stock Performance

BEAM stock opened at $23.90 on Friday. Beam Therapeutics Inc. has a one year low of $16.95 and a one year high of $49.50. The firm’s 50 day moving average price is $32.99 and its 200-day moving average price is $28.05. The firm has a market cap of $1.95 billion, a PE ratio of -12.58 and a beta of 1.77.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of ($0.69) by $2.42. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The firm had revenue of $316.20 million during the quarter, compared to the consensus estimate of $34.16 million. During the same quarter last year, the firm earned ($0.54) EPS. The firm’s revenue for the quarter was up 1481.0% on a year-over-year basis. Equities research analysts predict that Beam Therapeutics Inc. will post -5.53 EPS for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 4,534 shares of Beam Therapeutics stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the sale, the president now owns 169,616 shares in the company, valued at approximately $5,448,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the transaction, the chief executive officer now owns 1,058,262 shares in the company, valued at $26,805,776.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Giuseppe Ciaramella sold 4,534 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.12, for a total transaction of $145,632.08. Following the completion of the transaction, the president now owns 169,616 shares of the company’s stock, valued at approximately $5,448,065.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,804 shares of company stock worth $4,731,669. Insiders own 4.40% of the company’s stock.

Beam Therapeutics Profile

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.