IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 3,815 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 41.0% in the third quarter, Holdings Channel reports. The fund owned 13,118 shares of the company’s stock after buying an additional 3,815 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Beam Therapeutics were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Farallon Capital Management LLC boosted its position in shares of Beam Therapeutics by 75.4% during the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock valued at $185,404,000 after acquiring an additional 3,401,370 shares during the last quarter. Vanguard Group Inc. raised its holdings in Beam Therapeutics by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock valued at $250,402,000 after buying an additional 413,892 shares during the period. ARCH Venture Management LLC purchased a new stake in Beam Therapeutics during the 2nd quarter valued at $127,530,000. Darwin Global Management Ltd. purchased a new stake in Beam Therapeutics during the 1st quarter valued at $70,032,000. Finally, Redmile Group LLC raised its holdings in Beam Therapeutics by 31.5% during the 1st quarter. Redmile Group LLC now owns 1,879,617 shares of the company’s stock valued at $62,103,000 after buying an additional 449,834 shares during the period. 99.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 938,659 shares in the company, valued at approximately $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 938,659 shares in the company, valued at approximately $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Giuseppe Ciaramella sold 51,110 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the sale, the president now directly owns 160,260 shares in the company, valued at approximately $4,210,030.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,784 shares of company stock worth $2,834,485. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BEAM. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price target on shares of Beam Therapeutics in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Stifel Nicolaus increased their price target on Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays decreased their price target 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, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.45.

Beam Therapeutics Stock Down 8.8 %

BEAM stock opened at $24.35 on Friday. The business’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $25.09. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -13.68 and a beta of 1.85.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.02. The firm had revenue of $11.80 million for the quarter, compared to analyst estimates of $14.18 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The business’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.08) earnings per share. Research analysts expect that Beam Therapeutics Inc. will post -4.6 EPS for the current 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.