Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,492 shares of the company’s stock after acquiring an additional 36,226 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Beam Therapeutics were worth $15,423,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Farallon Capital Management LLC boosted its stake in shares of Beam Therapeutics by 75.4% in the second quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock valued at $185,404,000 after purchasing an additional 3,401,370 shares during the period. ARCH Venture Management LLC purchased a new position in shares of Beam Therapeutics in the second quarter valued at $127,530,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Beam Therapeutics by 59.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after purchasing an additional 1,328,414 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Beam Therapeutics by 63.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,049,360 shares of the company’s stock valued at $24,589,000 after purchasing an additional 407,499 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Beam Therapeutics by 8.1% in the second quarter. TD Asset Management Inc now owns 175,892 shares of the company’s stock valued at $4,121,000 after purchasing an additional 13,200 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $26.71 on Friday. The firm’s 50-day moving average is $24.79 and its 200-day moving average is $25.15. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $49.50. The company has a market cap of $2.21 billion, a P/E ratio of -15.18 and a beta of 1.90.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.52 million. During the same quarter in the previous year, the business posted ($1.22) earnings per share. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. As a group, sell-side analysts predict that Beam Therapeutics Inc. will post -4.66 earnings per share for the current year.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 938,659 shares of the company’s stock, valued at $23,091,011.40. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the sale, the president now directly owns 109,150 shares in the company, valued at approximately $2,877,194. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,894 shares of company stock worth $4,181,745. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BEAM has been the subject of several analyst reports. Scotiabank initiated coverage on shares of Beam Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 target price for the company. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Stifel Nicolaus upped their target price on shares of Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.91.

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.