Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,538,398 shares of the company's stock after purchasing an additional 298,067 shares during the quarter. Dimensional Fund Advisors LP owned about 1.86% of Beam Therapeutics worth $38,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BEAM. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Beam Therapeutics during the fourth quarter worth about $330,000. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 valued at $98,149,000 after buying an additional 404,782 shares during the period. Teacher Retirement System of Texas lifted its position in Beam Therapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 20,767 shares of the company's stock valued at $515,000 after buying an additional 3,222 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Beam Therapeutics by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,945 shares of the company's stock worth $16,094,000 after acquiring an additional 19,453 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Beam Therapeutics in the fourth quarter worth $1,247,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Royal Bank of Canada boosted their price target on 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 raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective for the company in a research report on Monday, March 10th. Finally, Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $48.75.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 5,674 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $104,117.90. Following the transaction, the insider now owns 117,294 shares of the company's stock, valued at $2,152,344.90. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 986,249 shares of the company's stock, valued at approximately $18,097,669.15. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,771 shares of company stock valued at $803,198. Corporate insiders own 4.20% of the company's stock.

Beam Therapeutics Trading Up 1.0 %

BEAM stock traded up $0.17 during mid-day trading on Friday, hitting $17.42. 2,383,293 shares of the company were exchanged, compared to its average volume of 1,432,774. The firm has a fifty day simple moving average of $20.07 and a 200 day simple moving average of $24.34. The company has a market capitalization of $1.75 billion, a PE ratio of -9.90 and a beta of 2.35. Beam Therapeutics Inc. has a twelve month low of $13.53 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) 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 firm had revenue of $7.47 million during the quarter, compared to analyst estimates of $14.69 million. During the same quarter last year, the business posted ($1.21) earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

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.