Scientech Research LLC Acquires 32,469 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Scientech Research LLC lifted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 167.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,876 shares of the company's stock after purchasing an additional 32,469 shares during the period. Scientech Research LLC owned 0.06% of Beam Therapeutics worth $1,215,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BEAM. Riverview Trust Co acquired a new stake in Beam Therapeutics during the 1st quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Beam Therapeutics in the 2nd quarter valued at $26,000. Blue Trust Inc. raised its stake in Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company's stock worth $40,000 after buying an additional 1,642 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company's stock worth $43,000 after buying an additional 923 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Beam Therapeutics by 200.0% in the second quarter. National Bank of Canada FI now owns 3,000 shares of the company's stock valued at $69,000 after buying an additional 2,000 shares during the period. Institutional investors own 99.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $27.00 price objective on shares of Beam Therapeutics in a research report on Thursday, September 19th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Stifel Nicolaus raised their price objective on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Wedbush reiterated an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 6th. Finally, Barclays reduced their price target on shares of Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $44.18.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM traded down $0.07 during midday trading on Friday, hitting $25.05. 654,144 shares of the company's stock were exchanged, compared to its average volume of 1,260,571. Beam Therapeutics Inc. has a 12 month low of $16.95 and a 12 month high of $49.50. The company has a market cap of $2.06 billion, a PE ratio of -14.07 and a beta of 1.86. The stock has a 50 day moving average price of $26.16 and a 200-day moving average price of $26.09.

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

Beam Therapeutics 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.