Handelsbanken Fonder AB Acquires 6,400 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Handelsbanken Fonder AB lifted its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,900 shares of the company’s stock after buying an additional 6,400 shares during the period. Handelsbanken Fonder AB’s holdings in Beam Therapeutics were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BEAM. SG Americas Securities LLC bought a new stake in shares of Beam Therapeutics in the 3rd quarter worth about $363,000. Commonwealth Equity Services LLC grew its holdings in Beam Therapeutics by 11.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,812 shares of the company’s stock valued at $236,000 after purchasing an additional 1,030 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Beam Therapeutics by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 493,916 shares of the company’s stock valued at $11,879,000 after purchasing an additional 12,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Beam Therapeutics by 15.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,907 shares of the company’s stock valued at $286,000 after purchasing an additional 1,549 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Beam Therapeutics by 10.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,682 shares of the company’s stock valued at $7,833,000 after purchasing an additional 30,909 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Insider Transactions at Beam Therapeutics

In other news, insider Amy Simon sold 7,157 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the sale, the insider now owns 86,590 shares of the company’s stock, valued at approximately $2,782,136.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Amy Simon sold 7,157 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the sale, the insider now owns 86,590 shares of the company’s stock, valued at approximately $2,782,136.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fmr Llc sold 1,565 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total transaction of $48,139.40. Following the completion of the sale, the insider now directly owns 2,771,913 shares of the company’s stock, valued at approximately $85,264,043.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,804 shares of company stock valued at $3,211,869. Company insiders own 4.20% of the company’s stock.

Beam Therapeutics Price Performance

Shares of BEAM stock opened at $21.74 on Thursday. The company has a market capitalization of $1.79 billion, a P/E ratio of -11.44 and a beta of 1.77. The company’s 50-day simple moving average is $31.41 and its two-hundred day simple moving average is $28.07. Beam Therapeutics Inc. has a one year low of $16.95 and a one year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of ($0.69) by $2.42. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The firm had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $34.16 million. During the same quarter in the prior year, the company earned ($0.54) EPS. The company’s revenue was up 1481.0% compared to the same quarter last year. On average, research analysts expect that Beam Therapeutics Inc. will post -5.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday, April 23rd. TheStreet upgraded shares of Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Barclays upped their price target on shares of Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Wednesday, March 27th. Finally, Royal Bank of Canada upped their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.

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.