64,313 Shares in Beam Therapeutics Inc. (NASDAQ:BEAM) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 64,313 shares of the company's stock, valued at approximately $15,760,000. International Assets Investment Management LLC owned 0.08% of Beam Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in Beam Therapeutics by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 143,828 shares of the company's stock valued at $4,752,000 after acquiring an additional 6,102 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Beam Therapeutics during the 2nd quarter worth approximately $3,683,000. Vanguard Group Inc. grew its position in shares of Beam Therapeutics by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company's stock valued at $250,402,000 after purchasing an additional 413,892 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Beam Therapeutics by 34.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 223,929 shares of the company's stock worth $6,782,000 after buying an additional 57,554 shares in the last quarter. Finally, Bellevue Group AG increased its position in shares of Beam Therapeutics by 71.7% during the first quarter. Bellevue Group AG now owns 1,193,121 shares of the company's stock worth $39,421,000 after purchasing an additional 498,300 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Beam Therapeutics Trading Up 1.5 %

NASDAQ:BEAM traded up $0.33 during midday trading on Wednesday, hitting $22.50. 849,768 shares of the company were exchanged, compared to its average volume of 1,225,527. The company has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $24.68. Beam Therapeutics Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $49.50. The company has a market capitalization of $1.85 billion, a PE ratio of -12.61 and a beta of 1.85.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released 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 return on equity of 16.22% and a negative net margin of 40.56%. The business had revenue of $11.80 million for the quarter, compared to analysts' expectations of $14.18 million. During the same quarter in the prior year, the firm posted ($1.08) EPS. The company's revenue was down 41.3% compared to the same quarter last year. As a group, equities research analysts expect that Beam Therapeutics Inc. will post -4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BEAM. Barclays decreased their target price on shares of Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 7th. Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Tuesday, August 6th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Stifel Nicolaus lifted their price target on shares of Beam Therapeutics from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Scotiabank began coverage on shares of Beam Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $24.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.80.

Insider Activity

In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the completion of the sale, the president now owns 160,260 shares of the company's stock, valued at approximately $4,210,030.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction on Monday, September 30th. The shares were sold at an average price of $24.60, for a total value of $1,476,000.00. Following the completion of the transaction, the chief executive officer now owns 938,659 shares of the company's stock, valued at $23,091,011.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Giuseppe Ciaramella sold 51,110 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $26.27, for a total value of $1,342,659.70. Following the completion of the sale, the president now directly owns 160,260 shares in the company, valued at approximately $4,210,030.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,784 shares of company stock valued at $2,834,485 over the last quarter. Company insiders own 4.20% of the company's stock.

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.