Dynamic Technology Lab Private Ltd Acquires New Holdings in Beam Therapeutics Inc. $BEAM

Dynamic Technology Lab Private Ltd bought a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,154 shares of the company’s stock, valued at approximately $292,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Beam Therapeutics by 7,080.0% during the 2nd quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock valued at $43,000 after acquiring an additional 2,478 shares in the last quarter. CWM LLC boosted its stake in shares of Beam Therapeutics by 79.8% during the first quarter. CWM LLC now owns 2,684 shares of the company’s stock valued at $52,000 after purchasing an additional 1,191 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Beam Therapeutics by 43.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock worth $66,000 after purchasing an additional 1,175 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Beam Therapeutics during the first quarter worth about $87,000. Finally, Quarry LP increased its stake in shares of Beam Therapeutics by 200.0% in the first quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $88,000 after buying an additional 3,000 shares during the period. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Stock Performance

Shares of BEAM stock opened at $24.69 on Wednesday. The company has a market cap of $2.51 billion, a P/E ratio of -5.57 and a beta of 2.40. The stock has a 50 day simple moving average of $24.54 and a two-hundred day simple moving average of $20.54. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, November 4th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). The company had revenue of $9.70 million for the quarter, compared to analyst estimates of $12.83 million. Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The firm’s revenue was down 32.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.17) EPS. On average, research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BEAM shares. JPMorgan Chase & Co. reduced their target price on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Wednesday, October 8th. Barclays decreased their price objective on Beam Therapeutics from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Evercore ISI assumed coverage on Beam Therapeutics in a report on Monday. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Wall Street Zen cut Beam Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.58.

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.