China Universal Asset Management Co. Ltd. Increases Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

China Universal Asset Management Co. Ltd. raised its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM) by 325.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,667 shares of the company’s stock after purchasing an additional 7,395 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Beam Therapeutics were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. ARK Investment Management LLC boosted its stake in shares of Beam Therapeutics by 6.9% during the 4th quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company’s stock worth $255,702,000 after acquiring an additional 609,998 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Beam Therapeutics by 20.0% during the 2nd quarter. BlackRock Inc. now owns 6,350,776 shares of the company’s stock worth $202,780,000 after acquiring an additional 1,060,104 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Beam Therapeutics by 17.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,174,471 shares of the company’s stock worth $294,153,000 after acquiring an additional 927,970 shares in the last quarter. State Street Corp boosted its stake in shares of Beam Therapeutics by 10.8% during the 2nd quarter. State Street Corp now owns 3,587,004 shares of the company’s stock worth $114,533,000 after acquiring an additional 350,916 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Beam Therapeutics by 35.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,642,180 shares of the company’s stock worth $39,494,000 after acquiring an additional 427,100 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, insider Amy Simon sold 7,157 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the insider now owns 86,590 shares in the company, valued at $2,782,136.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $33.86, for a total transaction of $2,031,600.00. Following the completion of the transaction, the chief executive officer now owns 998,262 shares of the company’s stock, valued at approximately $33,801,151.32. The disclosure for this sale can be found here. Insiders have sold a total of 156,804 shares of company stock worth $4,731,669 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BEAM shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a research note on Wednesday, March 27th. TheStreet raised Beam Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 11th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price (up previously from $48.00) on shares of Beam Therapeutics in a research note on Tuesday, February 27th. Royal Bank of Canada upped their target price on Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down from $75.00) on shares of Beam Therapeutics in a report on Friday, December 8th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.00.

Beam Therapeutics Trading Down 2.9 %

Beam Therapeutics stock opened at $28.20 on Friday. The company has a market capitalization of $2.30 billion, a P/E ratio of -14.84 and a beta of 1.77. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50. The firm’s fifty day simple moving average is $33.13 and its 200-day simple moving average is $27.85.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, February 27th. The company reported $1.73 EPS 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 for the quarter, compared to the consensus estimate of $34.16 million. During the same quarter last year, the firm posted ($0.54) EPS. The business’s quarterly revenue was up 1481.0% on a year-over-year basis. On average, equities research analysts predict that Beam Therapeutics Inc. will post -5.5 earnings per share for the current year.

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.