Beam Therapeutics Inc. $BEAM Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 448.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 63,879 shares of the company’s stock after purchasing an additional 52,238 shares during the period. Concurrent Investment Advisors LLC’s holdings in Beam Therapeutics were worth $2,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BEAM. Nykredit A S purchased a new position in Beam Therapeutics in the second quarter valued at $75,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Beam Therapeutics during the 2nd quarter worth about $535,000. Two Sigma Securities LLC increased its holdings in shares of Beam Therapeutics by 33.9% in the 2nd quarter. Two Sigma Securities LLC now owns 13,700 shares of the company’s stock valued at $470,000 after acquiring an additional 3,470 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Beam Therapeutics by 1,372.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,252 shares of the company’s stock valued at $43,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Chapin Davis Inc. acquired a new stake in shares of Beam Therapeutics during the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Insider Activity at Beam Therapeutics

In other news, insider Amy Simon sold 16,667 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $25.74, for a total value of $429,008.58. Following the completion of the sale, the insider directly owned 85,696 shares of the company’s stock, valued at approximately $2,205,815.04. This represents a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fmr Llc sold 251,488 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was 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 approximately $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 301,527 shares of company stock worth $10,468,500. 3.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BEAM shares. Tudor Pickering set a $39.00 target price on Beam Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised shares of Beam Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Sanford C. Bernstein reduced their price objective on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Bank of America restated a “buy” rating and issued a $47.00 target price on shares of Beam Therapeutics in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Beam Therapeutics Stock Down 9.5%

BEAM opened at $26.83 on Wednesday. The business’s 50-day simple moving average is $29.09 and its 200-day simple moving average is $28.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. Beam Therapeutics Inc. has a one year low of $19.35 and a one year high of $38.26. The stock has a market capitalization of $2.77 billion, a P/E ratio of -31.20 and a beta of 2.22.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.07). The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $16.37 million. Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The firm’s revenue for the quarter was down 94.2% compared to the same quarter last year. During the same period last year, the company earned ($1.00) earnings per share. Analysts anticipate that Beam Therapeutics Inc. will post -4.49 EPS for the current year.

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.