China Universal Asset Management Co. Ltd. Acquires 6,181 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

China Universal Asset Management Co. Ltd. raised its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 62.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,087 shares of the company’s stock after purchasing an additional 6,181 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Beam Therapeutics were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays lowered their price target 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. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday, August 6th. Scotiabank initiated coverage on Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Beam Therapeutics Stock Up 1.5 %

Shares of BEAM opened at $22.50 on Thursday. The business’s 50-day moving average price is $24.52 and its 200-day moving average price is $24.68. Beam Therapeutics Inc. has a twelve month low of $18.85 and a twelve month high of $49.50. The stock has a market cap of $1.85 billion, a PE ratio of -12.64 and a beta of 1.85.

Beam Therapeutics (NASDAQ:BEAM) last posted its 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 analyst estimates of $14.18 million. During the same quarter in the prior year, the firm posted ($1.08) EPS. Beam Therapeutics’s revenue was down 41.3% on a year-over-year basis. Analysts expect that Beam Therapeutics Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.