ADAR1 Capital Management LLC Reduces Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

ADAR1 Capital Management LLC reduced its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,312 shares of the company’s stock after selling 5,588 shares during the period. ADAR1 Capital Management LLC’s holdings in Beam Therapeutics were worth $950,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BEAM. Wealthfront Advisers LLC acquired a new position in shares of Beam Therapeutics in the 4th quarter valued at approximately $41,000. KBC Group NV increased its stake in shares of Beam Therapeutics by 103.2% in the fourth quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after purchasing an additional 2,104 shares during the period. Blue Trust Inc. boosted its position in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock worth $105,000 after acquiring an additional 1,139 shares during the period. GAMMA Investing LLC increased its stake in Beam Therapeutics by 23.9% during the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after buying an additional 1,102 shares during the period. Finally, Atria Investments Inc raised its holdings in Beam Therapeutics by 17.1% during the fourth quarter. Atria Investments Inc now owns 9,562 shares of the company’s stock worth $237,000 after purchasing an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $15.27 on Monday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -8.68 and a beta of 2.02. The stock’s 50-day simple moving average is $25.86 and its 200 day simple moving average is $25.61. Beam Therapeutics Inc. has a 52-week low of $14.59 and a 52-week high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. During the same period in the prior year, the business posted $1.73 EPS. The firm’s revenue was down 90.5% compared to the same quarter last year. On average, research analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the sale, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares in the company, valued at approximately $3,490,463.60. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,771 shares of company stock valued at $1,605,698. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BEAM. Guggenheim reissued a “buy” rating and issued a $78.00 target price on shares of Beam Therapeutics in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a research report on Monday, March 10th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their target price on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $49.45.

Beam Therapeutics Company 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.