Privium Fund Management B.V. Acquires Shares of 61,000 Beam Therapeutics Inc. $BEAM

Privium Fund Management B.V. purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 61,000 shares of the company’s stock, valued at approximately $1,480,000. Privium Fund Management B.V. owned about 0.06% of Beam Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARK Investment Management LLC boosted its stake in shares of Beam Therapeutics by 4.3% during the second quarter. ARK Investment Management LLC now owns 8,847,841 shares of the company’s stock worth $150,502,000 after buying an additional 367,752 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Beam Therapeutics by 2.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,830,738 shares of the company’s stock worth $117,242,000 after acquiring an additional 101,294 shares during the period. Nikko Asset Management Americas Inc. lifted its position in Beam Therapeutics by 10.7% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 4,726,799 shares of the company’s stock worth $80,403,000 after acquiring an additional 456,779 shares during the period. Bellevue Group AG grew its stake in shares of Beam Therapeutics by 20.6% in the 2nd quarter. Bellevue Group AG now owns 2,889,288 shares of the company’s stock valued at $49,147,000 after purchasing an additional 493,358 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Beam Therapeutics by 2.5% in the second quarter. Geode Capital Management LLC now owns 2,254,261 shares of the company’s stock valued at $38,350,000 after purchasing an additional 54,806 shares during the period. 99.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christine Bellon sold 18,629 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69. Following the sale, the insider owned 97,038 shares in the company, valued at approximately $3,358,485.18. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Beam Therapeutics Trading Down 5.7%

Shares of BEAM opened at $27.62 on Friday. Beam Therapeutics Inc. has a 12-month low of $13.52 and a 12-month high of $36.44. The company has a 50-day moving average of $28.24 and a two-hundred day moving average of $24.03. The stock has a market cap of $2.80 billion, a P/E ratio of -6.23 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $9.70 million during the quarter, compared to analyst estimates of $12.83 million. During the same period last year, the firm earned ($1.17) earnings per share. The business’s revenue was down 32.2% compared to the same quarter last year. As a group, analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BEAM shares. Sanford C. Bernstein increased their price target on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. Tudor Pickering set a $41.00 price target on shares of Beam Therapeutics in a research note on Wednesday, January 21st. Jefferies Financial Group assumed coverage on Beam Therapeutics in a research note on Thursday, October 9th. They set a “buy” rating and a $41.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.