Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Sold by ARCH Venture Management LLC

ARCH Venture Management LLC lowered its position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,540,132 shares of the company's stock after selling 294,521 shares during the period. Beam Therapeutics makes up approximately 48.9% of ARCH Venture Management LLC's investment portfolio, making the stock its biggest holding. ARCH Venture Management LLC owned approximately 5.48% of Beam Therapeutics worth $112,595,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BEAM. ARK Investment Management LLC raised its position in Beam Therapeutics by 8.2% during the 4th quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company's stock valued at $175,287,000 after purchasing an additional 536,930 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Beam Therapeutics by 11.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company's stock worth $98,149,000 after acquiring an additional 404,782 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in Beam Therapeutics by 11.4% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company's stock worth $98,109,000 after acquiring an additional 404,782 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Beam Therapeutics by 18.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,753,142 shares of the company's stock valued at $43,479,000 after purchasing an additional 266,834 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Beam Therapeutics by 24.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,538,398 shares of the company's stock worth $38,155,000 after purchasing an additional 298,067 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.

Insider Buying and Selling

In other news, President Giuseppe Ciaramella sold 7,434 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $136,413.90. Following the completion of the transaction, the president now directly owns 190,216 shares of the company's stock, valued at approximately $3,490,463.60. The trade was a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the transaction, the chief executive officer now owns 986,249 shares of the company's stock, valued at $18,097,669.15. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,771 shares of company stock valued at $803,198. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BEAM. Guggenheim reduced their price objective on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday. Barclays decreased their price objective on Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday. Sanford C. Bernstein upgraded Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Wedbush reissued an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $48.75.

Beam Therapeutics Price Performance

BEAM stock traded up $0.24 during mid-day trading on Wednesday, reaching $16.23. 2,638,061 shares of the company's stock were exchanged, compared to its average volume of 1,418,675. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -9.22 and a beta of 2.35. Beam Therapeutics Inc. has a 12-month low of $13.53 and a 12-month high of $35.25. The stock's 50 day moving average is $20.61 and its 200 day moving average is $24.46.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business had revenue of $7.47 million for the quarter, compared to analyst estimates of $14.69 million. During the same period in the previous year, the business posted ($1.21) earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal 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.