Beam Therapeutics Inc. $BEAM Position Increased by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP grew its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 55.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 70,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Hudson Bay Capital Management LP owned about 0.07% of Beam Therapeutics worth $1,699,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BEAM. Larson Financial Group LLC raised its position in shares of Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after purchasing an additional 1,923 shares during the period. Van ECK Associates Corp boosted its position in shares of Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after purchasing an additional 707 shares during the period. Allworth Financial LP increased its stake in Beam Therapeutics by 7,080.0% in the 2nd quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after purchasing an additional 2,478 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Beam Therapeutics by 1,248.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock worth $65,000 after purchasing an additional 3,534 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in Beam Therapeutics by 300.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,009 shares of the company’s stock worth $97,000 after buying an additional 3,007 shares during the period. 99.68% of the stock is owned by institutional investors.

Beam Therapeutics Trading Down 2.1%

BEAM opened at $24.63 on Monday. The stock has a fifty day moving average price of $28.42 and a 200 day moving average price of $26.23. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $36.44. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -24.39 and a beta of 2.12.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of ($1.13) by $3.46. The company had revenue of $114.11 million during the quarter, compared to the consensus estimate of $13.22 million. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The company’s revenue for the quarter was up 280.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.09) earnings per share. As a group, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Beam Therapeutics news, insider Christine Bellon sold 18,629 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69. Following the transaction, the insider directly owned 97,038 shares of the company’s stock, valued at $3,358,485.18. This represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BEAM shares. Wall Street Zen raised shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Tudor Pickering set a $41.00 price target on shares of Beam Therapeutics in a report on Wednesday, January 21st. Wedbush upped their price target on shares of Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein raised their price objective on shares of Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, UBS Group began coverage on shares of Beam Therapeutics in a research report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

About Beam Therapeutics

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.