Beam Therapeutics Inc. (NASDAQ:BEAM) is ARCH Venture Management LLC's Largest Position

ARCH Venture Management LLC cut its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,540,132 shares of the company's stock after selling 294,521 shares during the period. Beam Therapeutics accounts for approximately 48.9% of ARCH Venture Management LLC's holdings, making the stock its biggest holding. ARCH Venture Management LLC owned about 5.48% of Beam Therapeutics worth $112,595,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BEAM. Wealthfront Advisers LLC acquired a new position in shares of Beam Therapeutics in the 4th quarter valued at $41,000. Sterling Capital Management LLC raised its stake in shares of Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after purchasing an additional 2,146 shares during the period. KBC Group NV boosted its position in shares of Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after buying an additional 2,104 shares during the period. Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after acquiring an additional 1,139 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock valued at $142,000 after purchasing an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Guggenheim cut their price target on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 26th. Scotiabank upgraded shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective on the stock in a research note on Monday, March 10th. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Monday, April 7th. Finally, Wells Fargo & Company decreased their target price on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday. Two 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's stock. According to data from MarketBeat.com, Beam Therapeutics has an average rating of "Buy" and a consensus price target of $48.75.

Beam Therapeutics Stock Up 7.8 %

Shares of BEAM traded up $1.27 during trading hours on Thursday, hitting $17.50. 1,900,750 shares of the company were exchanged, compared to its average volume of 1,422,180. The firm's fifty day moving average is $20.41 and its 200 day moving average is $24.40. Beam Therapeutics Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $35.25. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -9.94 and a beta of 2.35.

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

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now directly owns 986,249 shares of the company's stock, valued at approximately $18,097,669.15. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine Bellon sold 5,674 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $104,117.90. Following the completion of the sale, the insider now directly owns 117,294 shares of the company's stock, valued at $2,152,344.90. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,771 shares of company stock worth $803,198. 4.20% of the stock is currently owned by insiders.

Beam Therapeutics Company 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.