IQ EQ FUND MANAGEMENT IRELAND Ltd Has $799,000 Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 145.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,198 shares of the company's stock after purchasing an additional 19,080 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Beam Therapeutics were worth $799,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. ARK Investment Management LLC grew its stake in Beam Therapeutics by 8.2% in the fourth quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company's stock valued at $175,287,000 after purchasing an additional 536,930 shares in the last quarter. State Street Corp grew its stake in shares of Beam Therapeutics by 12.5% in the third quarter. State Street Corp now owns 3,929,557 shares of the company's stock valued at $96,274,000 after buying an additional 437,402 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Beam Therapeutics by 11.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company's stock worth $98,149,000 after buying an additional 404,782 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Beam Therapeutics by 11.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company's stock worth $98,109,000 after buying an additional 404,782 shares during the last quarter. Finally, Peregrine Investment Management Inc. bought a new stake in Beam Therapeutics during the fourth quarter worth $3,932,000. Institutional investors and hedge funds own 99.68% of the company's stock.

Insider Activity at Beam Therapeutics

In related news, insider Christine Bellon sold 1,241 shares of the stock in a transaction that occurred 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 sale, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John M. Evans sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares of the company's stock, valued at approximately $24,306,628.25. This represents 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 insiders.

Beam Therapeutics Stock Down 5.0 %

Shares of BEAM traded down $0.97 during mid-day trading on Tuesday, hitting $18.56. 1,686,794 shares of the company's stock were exchanged, compared to its average volume of 1,302,478. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -10.54 and a beta of 1.91. The stock's 50-day simple moving average is $26.57 and its 200-day simple moving average is $25.86. Beam Therapeutics Inc. has a 52 week low of $17.91 and a 52 week high of $35.25.

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

Wall Street Analyst Weigh In

BEAM has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $78.00 price target on shares of Beam Therapeutics in a research note on Thursday, February 27th. Bank of America raised shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a research report on Friday. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research report on Monday, March 10th. Finally, Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 target price for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Beam Therapeutics has a consensus rating of "Buy" and an average target price of $49.45.

Beam Therapeutics Company Profile

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.