MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,407 shares of the company’s stock after acquiring an additional 6,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.20% of Beam Therapeutics worth $4,030,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC grew its stake in Beam Therapeutics by 4.4% during 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 stake in shares of Beam Therapeutics by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company’s stock valued at $198,000 after buying an additional 496 shares during the period. Martingale Asset Management L P grew its stake in shares of Beam Therapeutics by 8.6% in the 4th quarter. Martingale Asset Management L P now owns 11,438 shares of the company’s stock valued at $284,000 after buying an additional 909 shares during the period. Swiss National Bank grew its stake in shares of Beam Therapeutics by 0.8% in the 4th quarter. Swiss National Bank now owns 137,800 shares of the company’s stock valued at $3,417,000 after buying an additional 1,100 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 36.3% in the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after buying an additional 1,139 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of the 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 sale, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. This represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,771 shares of company stock worth $803,198 in the last ninety days. 4.20% of the stock is owned by corporate insiders.

Beam Therapeutics Stock Down 1.3%

Beam Therapeutics stock opened at $17.66 on Tuesday. The firm has a market cap of $1.78 billion, a PE ratio of -10.03 and a beta of 2.35. Beam Therapeutics Inc. has a 52-week low of $13.53 and a 52-week high of $35.25. The company’s 50 day moving average is $18.97 and its two-hundred day moving average is $24.17.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). The business had revenue of $7.47 million for the quarter, compared to analyst estimates of $14.69 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. Beam Therapeutics’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.21) earnings per share. On average, equities research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BEAM has been the subject of several analyst reports. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, March 10th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, April 7th. Wells Fargo & Company dropped 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 note on Wednesday, May 7th. Scotiabank raised shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada upped their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $48.75.

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.