Strs Ohio Takes $193,000 Position in Beam Therapeutics Inc. $BEAM

Strs Ohio acquired a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,900 shares of the company’s stock, valued at approximately $193,000.

A number of other hedge funds have also recently modified their holdings of BEAM. Amalgamated Bank boosted its holdings in Beam Therapeutics by 20.4% in 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 period. Martingale Asset Management L P boosted its holdings 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 buying an additional 600 shares during the period. Avanza Fonder AB boosted its holdings in Beam Therapeutics by 1.6% in 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 period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Beam Therapeutics by 9.1% in 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 period. Finally, CWM LLC boosted 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 valued at $52,000 after purchasing an additional 1,191 shares during the last quarter. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Price Performance

Beam Therapeutics stock opened at $23.59 on Thursday. Beam Therapeutics Inc. has a 1-year low of $13.52 and a 1-year high of $35.25. The firm has a market capitalization of $2.39 billion, a P/E ratio of -5.24 and a beta of 2.14. The company’s 50-day moving average is $19.46 and its 200 day moving average is $19.00.

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, topping analysts’ consensus estimates 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 company had revenue of $8.47 million for the quarter, compared to analyst estimates of $13.29 million. During the same period in the prior year, the company posted ($1.11) EPS. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. Research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Fmr Llc sold 48,374 shares of the 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 49,624 shares of company stock valued at $1,015,628. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BEAM. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a report on Monday, September 15th. Wall Street Zen downgraded shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, September 14th. Cantor Fitzgerald raised shares of Beam Therapeutics to a “strong-buy” rating in a report on Monday, July 21st. Finally, Barclays dropped 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 report on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.40.

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.