KBC Group NV Has $35,000 Holdings in Beam Therapeutics Inc. $BEAM

KBC Group NV trimmed its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 50.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,034 shares of the company’s stock after selling 2,109 shares during the quarter. KBC Group NV’s holdings in Beam Therapeutics were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Allworth Financial LP raised its position in Beam Therapeutics by 7,080.0% during the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock valued at $43,000 after acquiring an additional 2,478 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Beam Therapeutics by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 26,183 shares of the company’s stock valued at $445,000 after purchasing an additional 758 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Beam Therapeutics in the 2nd quarter valued at $3,857,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Beam Therapeutics by 26.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,300 shares of the company’s stock valued at $226,000 after purchasing an additional 2,808 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Beam Therapeutics in the second quarter worth $268,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Up 1.4%

Shares of NASDAQ:BEAM opened at $25.03 on Thursday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -5.65 and a beta of 2.40. The business has a 50 day moving average price of $24.60 and a 200 day moving average price of $20.57. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.12). Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The business had revenue of $9.70 million during the quarter, compared to the consensus estimate of $12.83 million. During the same period in the prior year, the firm earned ($1.17) earnings per share. The business’s quarterly revenue was down 32.2% on a year-over-year basis. Analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BEAM shares. Jefferies Financial Group began coverage on Beam Therapeutics in a report on Thursday, October 9th. They set a “buy” rating and a $41.00 target price on the stock. Barclays cut their price objective on Beam Therapeutics from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Evercore ISI assumed coverage on Beam Therapeutics in a report on Monday. They issued an “outperform” rating and a $35.00 target price for the company. Benchmark reiterated a “speculative buy” rating on shares of Beam Therapeutics in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.58.

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.