XTX Topco Ltd Takes $745,000 Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

XTX Topco Ltd bought a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,810 shares of the company's stock, valued at approximately $745,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Arizona State Retirement System grew its stake in Beam Therapeutics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 19,431 shares of the company's stock valued at $455,000 after acquiring an additional 392 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Beam Therapeutics by 2.0% during the 1st quarter. American International Group Inc. now owns 36,760 shares of the company's stock valued at $1,215,000 after buying an additional 732 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Beam Therapeutics by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 18,418 shares of the company's stock valued at $609,000 after buying an additional 789 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Beam Therapeutics during the 1st quarter valued at about $26,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Beam Therapeutics by 144.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company's stock valued at $43,000 after buying an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.

Analysts Set New Price Targets

BEAM has been the subject of several research reports. Stifel Nicolaus lifted their price target on Beam Therapeutics from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Wedbush reiterated an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on Beam Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Barclays reduced their target price on Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $27.00 target price on shares of Beam Therapeutics in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $44.18.

Beam Therapeutics Stock Down 3.6 %

NASDAQ BEAM traded down $0.93 during trading on Monday, hitting $24.72. The company's stock had a trading volume of 1,007,514 shares, compared to its average volume of 1,271,461. The firm has a 50 day moving average price of $26.30 and a 200 day moving average price of $26.36. The firm has a market cap of $2.03 billion, a P/E ratio of -14.41 and a beta of 1.86. Beam Therapeutics Inc. has a 52 week low of $16.95 and a 52 week high of $49.50.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.02. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The company's revenue for the quarter was down 41.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.08) EPS. On average, equities analysts expect that Beam Therapeutics Inc. will post -4.6 earnings per share for the current year.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $24.50, for a total value of $1,470,000.00. Following the transaction, the chief executive officer now directly owns 998,343 shares of the company's stock, valued at approximately $24,459,403.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.