Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAMFree Report) by 83.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,314 shares of the company’s stock after selling 45,685 shares during the period. Squarepoint Ops LLC’s holdings in Beam Therapeutics were worth $218,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Beam Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 19,431 shares of the company’s stock worth $455,000 after acquiring an additional 392 shares during the last quarter. American International Group Inc. boosted its stake in shares of Beam Therapeutics by 2.0% in the first quarter. American International Group Inc. now owns 36,760 shares of the company’s stock valued at $1,215,000 after purchasing an additional 732 shares during the period. Principal Financial Group Inc. increased its position in shares of Beam Therapeutics by 4.5% during the first quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock worth $609,000 after acquiring an additional 789 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Beam Therapeutics during the first quarter worth approximately $26,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Beam Therapeutics by 144.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock worth $43,000 after buying an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Buying and Selling

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 60,674 shares of company stock worth $1,491,826 in the last 90 days. 4.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on BEAM. Barclays decreased their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price objective on shares of Beam Therapeutics in a report on Thursday, September 19th. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Tuesday, August 6th. Stifel Nicolaus upped their target price on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.18.

Get Our Latest Analysis on BEAM

Beam Therapeutics Trading Up 7.3 %

BEAM opened at $24.72 on Friday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -13.66 and a beta of 1.85. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The business has a 50 day moving average of $24.76 and a 200-day moving average of $25.24.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.02. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The firm had revenue of $11.80 million for the quarter, compared to analyst estimates of $14.18 million. During the same period in the previous year, the company posted ($1.08) earnings per share. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. Equities analysts predict that Beam Therapeutics Inc. will post -4.6 EPS for the current year.

About Beam Therapeutics

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

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