50,285 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,285 shares of the company's stock, valued at approximately $1,247,000. Avanza Fonder AB owned 0.06% of Beam Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BEAM. Victory Capital Management Inc. increased its holdings in Beam Therapeutics by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 9,921 shares of the company's stock worth $232,000 after acquiring an additional 973 shares in the last quarter. American Century Companies Inc. increased its position in Beam Therapeutics by 33.2% during the second quarter. American Century Companies Inc. now owns 95,578 shares of the company's stock worth $2,239,000 after purchasing an additional 23,837 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Beam Therapeutics during the 2nd quarter valued at approximately $488,000. Massachusetts Financial Services Co. MA purchased a new stake in Beam Therapeutics in the second quarter valued at $1,385,000. Finally, Dimensional Fund Advisors LP increased its holdings in Beam Therapeutics by 63.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company's stock valued at $24,589,000 after purchasing an additional 407,499 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.

Beam Therapeutics Trading Up 0.2 %

Shares of BEAM stock traded up $0.04 on Monday, reaching $23.44. 948,344 shares of the stock were exchanged, compared to its average volume of 1,006,993. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -13.32 and a beta of 1.92. The business's 50 day moving average price is $26.40 and its 200 day moving average price is $25.71. Beam Therapeutics Inc. has a twelve month low of $20.84 and a twelve month high of $49.50.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The business had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company's revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.22) earnings per share. Equities research analysts forecast that Beam Therapeutics Inc. will post -4.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BEAM. Cantor Fitzgerald upgraded Beam Therapeutics to a "hold" rating in a research report on Tuesday, December 10th. Royal Bank of Canada lowered their target price on Beam Therapeutics from $27.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Scotiabank assumed coverage on shares of Beam Therapeutics in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $24.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, December 9th. Finally, Leerink Partnrs raised shares of Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.67.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 1,241 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the transaction, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. This represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Giuseppe Ciaramella sold 51,110 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the sale, the president now owns 109,150 shares of the company's stock, valued at $2,877,194. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

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.