Beam Therapeutics Inc. $BEAM Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 26.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,561 shares of the company’s stock after selling 35,819 shares during the period. American Century Companies Inc. owned approximately 0.10% of Beam Therapeutics worth $1,944,000 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 company. Amalgamated Bank increased its holdings in shares of Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company’s stock worth $62,000 after buying an additional 534 shares during the last quarter. Avanza Fonder AB increased its holdings in shares of Beam Therapeutics by 1.6% during the 1st quarter. Avanza Fonder AB now owns 51,077 shares of the company’s stock worth $944,000 after buying an additional 792 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Beam Therapeutics by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,492 shares of the company’s stock worth $205,000 after buying an additional 879 shares during the last quarter. CWM LLC increased its holdings in shares of Beam Therapeutics by 79.8% during the 1st quarter. CWM LLC now owns 2,684 shares of the company’s stock worth $52,000 after buying an additional 1,191 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Beam Therapeutics by 18.0% during the 1st quarter. Victory Capital Management Inc. now owns 10,612 shares of the company’s stock worth $207,000 after buying an additional 1,618 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Trading Down 2.9%

Shares of Beam Therapeutics stock opened at $16.36 on Tuesday. The company has a fifty day moving average price of $18.71 and a 200 day moving average price of $19.79. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $35.25. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -3.64 and a beta of 2.14.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.04. The company had revenue of $8.47 million during the quarter, compared to analysts’ expectations of $13.29 million. Beam Therapeutics had a negative net margin of 661.31% and a negative return on equity of 43.15%. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.11) EPS. Analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Guggenheim dropped their price objective on Beam Therapeutics from $78.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price target on shares of Beam Therapeutics from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Barclays decreased their price target on shares of Beam Therapeutics from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald raised shares of Beam Therapeutics to a “strong-buy” rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $48.45.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total value of $991,667.00. Following the completion of the transaction, the insider directly owned 2,073,665 shares of the company’s stock, valued at $42,510,132.50. This represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 49,624 shares of company stock valued at $1,015,628. Corporate insiders own 3.50% of the company’s stock.

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.