Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 33.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,578 shares of the company's stock after buying an additional 23,837 shares during the quarter. American Century Companies Inc. owned approximately 0.12% of Beam Therapeutics worth $2,239,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Beam Therapeutics in the first quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its position in shares of Beam Therapeutics by 144.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company's stock worth $43,000 after purchasing an additional 923 shares during the period. Blue Trust Inc. boosted its stake in shares of Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company's stock valued at $40,000 after purchasing an additional 1,642 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Beam Therapeutics by 200.0% during the second quarter. National Bank of Canada FI now owns 3,000 shares of the company's stock valued at $69,000 after purchasing an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Beam Therapeutics by 958.7% in the second quarter. GAMMA Investing LLC now owns 4,076 shares of the company's stock worth $96,000 after buying an additional 3,691 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BEAM has been the topic of several recent research reports. Stifel Nicolaus increased their target price on Beam Therapeutics from $66.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $27.00 target price on shares of Beam Therapeutics in a research note on Thursday, September 19th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.18.

Beam Therapeutics Stock Down 0.3 %

Shares of NASDAQ:BEAM traded down $0.07 during trading on Friday, hitting $25.05. The stock had a trading volume of 654,144 shares, 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 stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -14.07 and a beta of 1.86. The stock has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $26.02.

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

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.