53,164 Shares in Beam Therapeutics Inc. $BEAM Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the 1st quarter, Holdings Channel reports. The institutional investor bought 53,164 shares of the company’s stock, valued at approximately $1,267,000.

Several other institutional investors have also added to or reduced their stakes in BEAM. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Beam Therapeutics during the fourth quarter worth about $47,000. Larson Financial Group LLC raised its position in shares of Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Beam Therapeutics in the 4th quarter valued at approximately $59,000. Van ECK Associates Corp boosted its stake in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Beam Therapeutics in the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

BEAM has been the topic of a number of recent analyst reports. Bank of America restated a “buy” rating and set a $47.00 price target on shares of Beam Therapeutics in a research note on Wednesday. Citigroup lifted their price objective on shares of Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Sanford C. Bernstein dropped their price objective on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Tudor Pickering set a $39.00 target price on Beam Therapeutics in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.85.

Beam Therapeutics Stock Performance

NASDAQ:BEAM traded down $3.14 during midday trading on Friday, hitting $32.68. The company’s stock had a trading volume of 2,832,978 shares, compared to its average volume of 2,470,542. Beam Therapeutics Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.26. The firm’s 50 day moving average is $31.72 and its 200-day moving average is $29.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The firm has a market cap of $3.36 billion, a P/E ratio of -48.06 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.12. The business had revenue of $31.74 million during the quarter, compared to analysts’ expectations of $10.98 million. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The business’s quarterly revenue was up 323.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.23) EPS. Equities analysts anticipate that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Fmr Llc sold 251,488 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the transaction, the insider owned 854,583 shares of the company’s stock, valued at $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Beam Therapeutics Profile

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.