Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P boosted its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 17.9% during the 3rd quarter, Holdings Channel reports. The firm owned 10,529 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Martingale Asset Management L P’s holdings in Beam Therapeutics were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new stake in shares of Beam Therapeutics during the second quarter valued at $26,000. Blue Trust Inc. grew its stake in Beam Therapeutics by 2,648.4% during the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after purchasing an additional 1,642 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $75,000 after purchasing an additional 524 shares during the period. National Bank of Canada FI raised its stake in shares of Beam Therapeutics by 200.0% in the second quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Beam Therapeutics by 350.0% during the second quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Insider Transactions at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total value of $1,347,259.60. Following the completion of the sale, the president now owns 109,150 shares of the company’s stock, valued at approximately $2,877,194. This trade represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the transaction, the chief executive officer now owns 938,659 shares in the company, valued at approximately $23,091,011.40. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,894 shares of company stock valued at $4,181,745. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $25.98 on Wednesday. The stock’s 50 day simple moving average is $24.73 and its 200-day simple moving average is $25.12. The company has a market cap of $2.15 billion, a PE ratio of -14.76 and a beta of 1.90. Beam Therapeutics Inc. has a 1-year low of $20.84 and a 1-year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $14.30 million during the quarter, compared to analysts’ expectations of $14.52 million. During the same quarter in the previous year, the business posted ($1.22) EPS. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities research analysts anticipate that Beam Therapeutics Inc. will post -4.66 EPS for the current fiscal year.

Analysts Set New Price Targets

BEAM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, November 5th. Finally, Barclays lowered their target price on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.91.

About Beam Therapeutics

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.