21,000 Beam Therapeutics Inc. $BEAM Shares Purchased by Privium Fund Management B.V.

Privium Fund Management B.V. raised its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 29.9% during the third quarter, Holdings Channel reports. The institutional investor owned 91,282 shares of the company’s stock after buying an additional 21,000 shares during the quarter. Privium Fund Management B.V.’s holdings in Beam Therapeutics were worth $2,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Beam Therapeutics in the 2nd quarter valued at $308,796,000. ARCH Venture Management LLC acquired a new position in shares of Beam Therapeutics during the second quarter valued at $155,771,929. Dimensional Fund Advisors LP lifted its stake in shares of Beam Therapeutics by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock valued at $51,327,000 after acquiring an additional 206,696 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of Beam Therapeutics during the first quarter valued at $34,467,000. Finally, Bank of America Corp DE bought a new position in Beam Therapeutics in the second quarter valued at about $24,733,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Beam Therapeutics

In related news, CEO John Evans sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at approximately $24,682,621.85. This trade represents a 2.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

Beam Therapeutics Trading Up 2.1%

BEAM traded up $0.54 during midday trading on Friday, reaching $26.41. 1,984,858 shares of the company were exchanged, compared to its average volume of 1,916,265. 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 $20.23 and a one year high of $38.26. The stock has a market capitalization of $2.73 billion, a P/E ratio of -25.39 and a beta of 2.23. The stock’s 50-day simple moving average is $25.58 and its 200 day simple moving average is $28.03.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, November 3rd. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.11). The firm had revenue of $0.31 million during the quarter, compared to analyst estimates of $8.75 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%. The company’s revenue for the quarter was down 96.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.10) earnings per share. As a group, analysts forecast that Beam Therapeutics Inc. will post -4.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

BEAM has been the subject of a number of research reports. William Blair upgraded Beam Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen cut Beam Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Guggenheim cut their target price on shares of Beam Therapeutics from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating on shares of Beam Therapeutics in a research note on Tuesday, October 27th. Finally, Wedbush lifted their price target on shares of Beam Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.36.

Beam Therapeutics Profile

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines for patients with serious diseases. The company’s platform uses base editing, a form of gene editing designed to make targeted changes to individual DNA letters without creating double-strand breaks. Beam is also advancing related editing technologies and delivery systems intended to improve the precision and effectiveness of genetic treatments.

Beam’s pipeline includes investigational programs for diseases such as sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and glycogen storage disease type Ia.