Charles Schwab Investment Management Inc. Has $16.09 Million Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 648,945 shares of the company's stock after purchasing an additional 19,453 shares during the period. Charles Schwab Investment Management Inc. owned about 0.78% of Beam Therapeutics worth $16,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV raised its holdings in shares of Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after buying an additional 2,104 shares in the last quarter. Blue Trust Inc. grew its position in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock valued at $105,000 after acquiring an additional 1,139 shares during the last quarter. GAMMA Investing LLC raised its stake in Beam Therapeutics by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock worth $142,000 after acquiring an additional 1,102 shares in the last quarter. Quarry LP lifted its holdings in shares of Beam Therapeutics by 66.7% in the third quarter. Quarry LP now owns 6,000 shares of the company's stock worth $147,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Beam Therapeutics in the 3rd quarter valued at approximately $200,000. 99.68% of the stock is currently owned by institutional investors.

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Insider Activity at Beam Therapeutics

In related news, insider Christine Bellon sold 1,241 shares of the business'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 transaction, the insider now owns 102,968 shares in the company, valued at $2,541,250.24. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $26.75, for a total transaction of $802,500.00. Following the completion of the sale, the chief executive officer now owns 908,659 shares of the company's stock, valued at $24,306,628.25. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Beam Therapeutics Stock Up 3.0 %

Beam Therapeutics stock traded up $0.71 during mid-day trading on Monday, hitting $24.01. 1,631,399 shares of the stock were exchanged, compared to its average volume of 1,221,549. The firm's fifty day simple moving average is $26.76 and its two-hundred day simple moving average is $25.93. Beam Therapeutics Inc. has a 12 month low of $20.84 and a 12 month high of $35.25. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -13.64 and a beta of 1.91.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. During the same quarter in the previous year, the business earned $1.73 earnings per share. Beam Therapeutics's revenue for the quarter was down 90.5% on a year-over-year basis. As a group, analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Guggenheim reissued a "buy" rating and set a $78.00 price objective on shares of Beam Therapeutics in a report on Thursday, February 27th. Sanford C. Bernstein raised Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price target on Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 26th. Finally, Scotiabank raised Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective for the company in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $50.82.

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.