Himension Capital Singapore PTE. LTD. Acquires Shares of 62,089 Beam Therapeutics Inc. $BEAM

Himension Capital Singapore PTE. LTD. acquired a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the first quarter, HoldingsChannel.com reports. The fund acquired 62,089 shares of the company’s stock, valued at approximately $1,480,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Beam Therapeutics during the 1st quarter worth approximately $43,000. Dimensional Fund Advisors LP lifted its holdings in Beam Therapeutics by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock valued at $51,327,000 after purchasing an additional 206,696 shares during the last quarter. Swiss National Bank boosted its position in Beam Therapeutics by 0.6% during the first quarter. Swiss National Bank now owns 180,600 shares of the company’s stock worth $4,304,000 after purchasing an additional 1,100 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of Beam Therapeutics by 82.4% in the first quarter. SteelPeak Wealth LLC now owns 29,704 shares of the company’s stock valued at $708,000 after purchasing an additional 13,417 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Beam Therapeutics in the first quarter valued at about $343,000. 99.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BEAM. Tudor Pickering set a $39.00 target price on shares of Beam Therapeutics in a report on Wednesday, May 13th. Citigroup increased their price target on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Bank of America restated a “buy” rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Sanford C. Bernstein reduced their price objective on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Beam Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $46.85.

Beam Therapeutics Price Performance

NASDAQ:BEAM opened at $27.29 on Wednesday. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $38.26. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -40.13 and a beta of 2.18. The firm’s 50-day simple moving average is $31.39 and its 200 day simple moving average is $29.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99.

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

Insider Activity

In related news, insider Fmr Llc sold 251,488 shares of the business’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 value of $8,867,466.88. Following the completion of the sale, the insider directly owned 854,583 shares in the company, valued at approximately $30,132,596.58. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

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.