Point72 Asia Singapore Pte. Ltd. Acquires Shares of 7,708 Beam Therapeutics Inc. (NASDAQ:BEAM)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,708 shares of the company’s stock, valued at approximately $191,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Kinetics Asset Management LLC increased its position in Beam Therapeutics by 4.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 9,597 shares of the company’s stock valued at $238,000 after acquiring an additional 403 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Beam Therapeutics by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock worth $198,000 after buying an additional 496 shares during the period. Martingale Asset Management L P grew its position in shares of Beam Therapeutics by 8.6% during the 4th quarter. Martingale Asset Management L P now owns 11,438 shares of the company’s stock worth $284,000 after buying an additional 909 shares during the period. Swiss National Bank grew its position in shares of Beam Therapeutics by 0.8% during the 4th quarter. Swiss National Bank now owns 137,800 shares of the company’s stock worth $3,417,000 after buying an additional 1,100 shares during the period. Finally, Blue Trust Inc. grew its position in shares of 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 buying an additional 1,139 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Price Performance

Beam Therapeutics stock opened at $17.89 on Friday. The company’s 50 day simple moving average is $19.17 and its 200 day simple moving average is $24.18. Beam Therapeutics Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $35.25. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -10.16 and a beta of 2.35.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $7.47 million during the quarter, compared to the consensus estimate of $14.69 million. During the same period in the previous year, the firm posted ($1.21) EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BEAM shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price target on shares of Beam Therapeutics from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research report on Monday, April 7th. Finally, Guggenheim lowered their price target on shares of Beam Therapeutics from $78.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Beam Therapeutics has a consensus rating of “Buy” and a consensus price target of $48.75.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Giuseppe Ciaramella sold 7,434 shares of Beam Therapeutics stock in a transaction that occurred 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 transaction, the president now directly owns 190,216 shares in the company, valued at approximately $3,490,463.60. The trade was a 3.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,771 shares of company stock valued at $803,198. 4.20% of the stock is currently owned by corporate insiders.

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.