Dimensional Fund Advisors LP Has $24.59 Million Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Dimensional Fund Advisors LP raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 63.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,049,360 shares of the company's stock after purchasing an additional 407,499 shares during the period. Dimensional Fund Advisors LP owned 1.27% of Beam Therapeutics worth $24,589,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BEAM. Arizona State Retirement System boosted 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 purchasing an additional 392 shares during the period. American International Group Inc. increased its position in Beam Therapeutics by 2.0% in the 1st quarter. American International Group Inc. now owns 36,760 shares of the company's stock valued at $1,215,000 after acquiring an additional 732 shares during the period. Principal Financial Group Inc. raised its stake in 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 acquiring an additional 789 shares in the last quarter. Riverview Trust Co bought a new position in shares of Beam Therapeutics in the first quarter worth $26,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company's stock valued at $43,000 after purchasing an additional 923 shares during the period. Institutional investors own 99.68% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the completion of the transaction, the chief executive officer now directly owns 938,659 shares in the company, valued at $23,091,011.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 60,674 shares of company stock valued at $1,491,826. Insiders own 4.20% of the company's stock.

Beam Therapeutics Stock Performance

Shares of BEAM stock traded up $0.47 during trading on Friday, hitting $23.41. 477,075 shares of the company were exchanged, compared to its average volume of 1,246,349. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -12.89 and a beta of 1.86. The business's 50-day simple moving average is $25.66 and its 200 day simple moving average is $25.75. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50.

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 for the quarter, topping analysts' consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The business had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. During the same period in the prior year, the business posted ($1.08) earnings per share. Beam Therapeutics's revenue for the quarter was down 41.3% compared to the same quarter last year. On average, equities analysts forecast that Beam Therapeutics Inc. will post -4.6 earnings per share for the current fiscal year.

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.