38,438 Shares in Beam Therapeutics Inc. $BEAM Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. acquired a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,438 shares of the company’s stock, valued at approximately $654,000.

Several other institutional investors have also made changes to their positions in BEAM. Price T Rowe Associates Inc. MD lifted its position in shares of Beam Therapeutics by 72.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,026,701 shares of the company’s stock valued at $59,112,000 after acquiring an additional 1,273,559 shares in the last quarter. Vanguard Group Inc. raised its stake in Beam Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company’s stock valued at $173,256,000 after purchasing an additional 1,249,303 shares during the period. EcoR1 Capital LLC purchased a new stake in shares of Beam Therapeutics in the first quarter valued at $10,286,000. Woodline Partners LP boosted its position in shares of Beam Therapeutics by 169.6% in the first quarter. Woodline Partners LP now owns 760,611 shares of the company’s stock worth $14,855,000 after buying an additional 478,491 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Beam Therapeutics by 10.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,729,444 shares of the company’s stock valued at $80,448,000 after buying an additional 462,573 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BEAM has been the subject of several research analyst reports. Jefferies Financial Group began coverage on Beam Therapeutics in a research note on Thursday, October 9th. They issued a “buy” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, October 8th. Benchmark reiterated a “speculative buy” rating on shares of Beam Therapeutics in a research report on Monday, November 17th. Finally, Evercore ISI assumed coverage on shares of Beam Therapeutics in a research note on Monday, November 24th. They set an “outperform” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.58.

Beam Therapeutics Stock Down 6.3%

NASDAQ BEAM opened at $27.09 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of -6.12 and a beta of 2.21. Beam Therapeutics Inc. has a 12-month low of $13.52 and a 12-month high of $35.25. The company has a 50 day moving average price of $24.86 and a two-hundred day moving average price of $20.95.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The business had revenue of $9.70 million for the quarter, compared to the consensus estimate of $12.83 million. During the same quarter in the prior year, the business posted ($1.17) EPS. The firm’s revenue for the quarter was down 32.2% compared to the same quarter last year. As a group, equities analysts anticipate 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.