Amova Asset Management Americas Inc. Has $91.16 Million Stock Holdings in Beam Therapeutics Inc. $BEAM

Amova Asset Management Americas Inc. lowered its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,825,585 shares of the company’s stock after selling 583,715 shares during the quarter. Beam Therapeutics makes up 1.3% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 24th largest holding. Amova Asset Management Americas Inc. owned about 3.72% of Beam Therapeutics worth $91,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BEAM. Hollencrest Capital Management purchased a new stake in shares of Beam Therapeutics in the 1st quarter valued at approximately $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Beam Therapeutics in the 4th quarter worth approximately $47,000. Larson Financial Group LLC grew its position in Beam Therapeutics by 4,370.5% during the 3rd 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 in the last quarter. Van ECK Associates Corp grew its position in Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Beam Therapeutics during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Buying and Selling

In other news, insider Fmr Llc sold 251,488 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the transaction, the insider owned 854,583 shares in the company, valued at $30,132,596.58. This represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Beam Therapeutics Stock Down 4.4%

BEAM opened at $26.33 on Tuesday. Beam Therapeutics Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.26. The business has a 50-day moving average of $31.47 and a 200-day moving average of $29.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The company has a market capitalization of $2.71 billion, a PE ratio of -38.72 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.12. The business had revenue of $31.74 million during the quarter, compared to analysts’ expectations of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The firm’s quarterly revenue was up 323.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.23) EPS. Equities research analysts forecast that Beam Therapeutics Inc. will post -4.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BEAM shares. Citigroup raised their target price on Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Sanford C. Bernstein dropped their price target on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Bank of America restated a “buy” rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Finally, Tudor Pickering set a $39.00 target price on Beam Therapeutics in a report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.85.

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.