Deutsche Bank AG Has $1.67 Million Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Deutsche Bank AG grew its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 54.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,508 shares of the company’s stock after purchasing an additional 23,871 shares during the period. Deutsche Bank AG owned about 0.08% of Beam Therapeutics worth $1,674,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new position in Beam Therapeutics in the 4th quarter valued at $41,000. Sterling Capital Management LLC boosted its holdings in shares of Beam Therapeutics by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after buying an additional 2,146 shares during the period. KBC Group NV lifted its holdings in shares of Beam Therapeutics by 103.2% in the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after purchasing an additional 2,104 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Beam Therapeutics by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock valued at $198,000 after acquiring an additional 496 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Analyst Upgrades and Downgrades

BEAM has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, April 7th. Guggenheim reduced their price target on shares of Beam Therapeutics from $78.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays dropped their price objective on shares of Beam Therapeutics from $31.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Finally, Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Beam Therapeutics has an average rating of “Buy” and an average price target of $48.75.

Insider Activity

In related news, CEO John M. Evans sold 30,663 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $562,666.05. Following the sale, the chief executive officer now owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. This represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Giuseppe Ciaramella sold 7,434 shares of Beam Therapeutics stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $136,413.90. Following the sale, the president now owns 190,216 shares of the company’s stock, valued at approximately $3,490,463.60. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,771 shares of company stock valued at $803,198 in the last 90 days. Insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $16.83 on Friday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -9.56 and a beta of 2.35. Beam Therapeutics Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $35.25. The firm’s 50-day simple moving average is $18.43 and its 200 day simple moving average is $23.98.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). The business had revenue of $7.47 million for the quarter, compared to analysts’ expectations of $14.69 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.21) earnings per share. On average, sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

About Beam Therapeutics

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.