43,199 Shares in Beam Therapeutics Inc. $BEAM Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,199 shares of the company’s stock, valued at approximately $844,000.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Beam Therapeutics by 20.4% in the first quarter. Amalgamated Bank now owns 3,153 shares of the company’s stock valued at $62,000 after purchasing an additional 534 shares in the last quarter. Martingale Asset Management L P boosted its stake in Beam Therapeutics by 5.2% in the 1st quarter. Martingale Asset Management L P now owns 12,038 shares of the company’s stock worth $235,000 after purchasing an additional 600 shares during the period. Avanza Fonder AB grew its holdings in Beam Therapeutics by 1.6% during the 1st quarter. Avanza Fonder AB now owns 51,077 shares of the company’s stock valued at $944,000 after buying an additional 792 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Beam Therapeutics by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,492 shares of the company’s stock valued at $205,000 after buying an additional 879 shares during the period. Finally, CWM LLC increased its position in shares of Beam Therapeutics by 79.8% during the first quarter. CWM LLC now owns 2,684 shares of the company’s stock valued at $52,000 after buying an additional 1,191 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total transaction of $991,667.00. Following the completion of the sale, the insider directly owned 2,073,665 shares in the company, valued at $42,510,132.50. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 49,624 shares of company stock worth $1,015,628 in the last three months. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their price objective 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. Wall Street Zen upgraded shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Cantor Fitzgerald upgraded shares of Beam Therapeutics to a “strong-buy” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Beam Therapeutics presently has an average rating of “Buy” and an average price target of $46.40.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $20.60 on Friday. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $35.25. The firm has a market cap of $2.08 billion, a PE ratio of -4.58 and a beta of 2.14. The company has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $19.19.

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

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.