Arcadia Investment Management Corp MI Invests $98,000 in Beam Therapeutics Inc. (NASDAQ:BEAM)

Arcadia Investment Management Corp MI acquired a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,000 shares of the company’s stock, valued at approximately $98,000.

Other large investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in Beam Therapeutics during the 2nd quarter valued at $26,000. Blue Trust Inc. lifted its stake in shares of Beam Therapeutics by 2,648.4% during the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock worth $40,000 after purchasing an additional 1,642 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Beam Therapeutics by 144.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,564 shares of the company’s stock valued at $43,000 after purchasing an additional 923 shares in the last quarter. National Bank of Canada FI grew its stake in Beam Therapeutics by 200.0% in the second quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock valued at $69,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Beam Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after purchasing an additional 524 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BEAM. JPMorgan Chase & Co. increased their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays decreased their target price on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Scotiabank started coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus upped their price target on Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Beam Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Beam Therapeutics Trading Up 4.7 %

NASDAQ BEAM opened at $22.93 on Friday. Beam Therapeutics Inc. has a 12-month low of $18.85 and a 12-month high of $49.50. The company has a fifty day simple moving average of $24.33 and a two-hundred day simple moving average of $24.62. The stock has a market cap of $1.89 billion, a P/E ratio of -12.67 and a beta of 1.85.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.02. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. During the same period in the prior year, the firm earned ($1.08) EPS. The firm’s revenue was down 41.3% on a year-over-year basis. As a group, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.6 earnings per share for the current year.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the completion of the sale, the chief executive officer now owns 938,659 shares of the company’s stock, valued at $23,091,011.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Giuseppe Ciaramella sold 51,110 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the sale, the president now directly owns 160,260 shares of the company’s stock, valued at $4,210,030.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the transaction, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,784 shares of company stock worth $2,834,485 over the last three months. 4.20% of the stock is currently owned by insiders.

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.