Charles Schwab Investment Management Inc. Has $16.09 Million Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

Charles Schwab Investment Management Inc. boosted its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 648,945 shares of the company’s stock after purchasing an additional 19,453 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Beam Therapeutics were worth $16,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Beam Therapeutics by 2.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the company’s stock valued at $524,000 after buying an additional 516 shares during the period. GAMMA Investing LLC lifted its holdings in Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company’s stock valued at $142,000 after buying an additional 1,102 shares during the period. Blue Trust Inc. lifted its holdings in Beam Therapeutics by 36.3% in the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after buying an additional 1,139 shares during the period. Martingale Asset Management L P lifted its holdings in Beam Therapeutics by 17.9% in the third quarter. Martingale Asset Management L P now owns 10,529 shares of the company’s stock valued at $258,000 after buying an additional 1,600 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Beam Therapeutics by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,794 shares of the company’s stock valued at $441,000 after buying an additional 1,707 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Price Performance

NASDAQ:BEAM opened at $22.87 on Friday. The firm has a 50-day moving average of $26.82 and a 200-day moving average of $25.93. The company has a market cap of $2.28 billion, a PE ratio of -12.99 and a beta of 1.91. Beam Therapeutics Inc. has a one year low of $20.84 and a one year high of $36.75.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was down 90.5% on a year-over-year basis. On average, equities research analysts expect that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BEAM shares. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Jones Trading raised shares of Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, March 10th. Guggenheim reaffirmed a “buy” rating and issued a $78.00 price target on shares of Beam Therapeutics in a research note on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $50.82.

Insider Buying and Selling

In related news, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the transaction, the chief executive officer now directly owns 908,659 shares in the company, valued at approximately $24,306,628.25. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the transaction, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

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.