Beam Therapeutics Inc. $BEAM Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC increased its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 468.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,765 shares of the company’s stock after acquiring an additional 114,349 shares during the quarter. Squarepoint Ops LLC owned about 0.14% of Beam Therapeutics worth $2,360,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BEAM. Hudson Bay Capital Management LP purchased a new position in Beam Therapeutics in the 2nd quarter worth approximately $765,000. Nikko Asset Management Americas Inc. increased its holdings in shares of Beam Therapeutics by 10.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 4,726,799 shares of the company’s stock valued at $80,403,000 after purchasing an additional 456,779 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Beam Therapeutics by 216.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 28,160 shares of the company’s stock worth $480,000 after buying an additional 19,265 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Beam Therapeutics by 113.3% during the second quarter. Tower Research Capital LLC TRC now owns 31,888 shares of the company’s stock worth $542,000 after buying an additional 16,935 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in Beam Therapeutics by 22.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,675 shares of the company’s stock valued at $233,000 after buying an additional 2,472 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $25.60 on Thursday. The company’s 50 day simple moving average is $25.13 and its 200-day simple moving average is $21.53. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $35.25. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -5.78 and a beta of 2.21.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) earnings per share 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 analysts’ expectations of $12.83 million. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The business’s revenue for the quarter was down 32.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) EPS. Equities analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BEAM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, October 8th. Benchmark reaffirmed a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. Wall Street Zen cut shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Evercore ISI began coverage on shares of Beam Therapeutics in a report on Monday, November 24th. They set an “outperform” rating and a $35.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price 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.