Dimensional Fund Advisors LP Has $38.16 Million Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Dimensional Fund Advisors LP raised its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,538,398 shares of the company's stock after acquiring an additional 298,067 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.86% of Beam Therapeutics worth $38,155,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of Beam Therapeutics in the fourth quarter valued at about $41,000. Sterling Capital Management LLC lifted its position in Beam Therapeutics by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after buying an additional 2,146 shares during the last quarter. KBC Group NV grew its stake in shares of Beam Therapeutics by 103.2% in the fourth quarter. KBC Group NV now owns 4,143 shares of the company's stock valued at $103,000 after buying an additional 2,104 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 36.3% in the fourth 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 lifted its stake in Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock worth $142,000 after acquiring an additional 1,102 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Insider Activity at Beam Therapeutics

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on BEAM shares. Wells Fargo & Company lowered their target price on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank of Canada upped their target price 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. 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. Jones Trading raised shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a report on Monday, March 10th. Finally, Scotiabank upgraded 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $48.75.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM traded up $0.17 during mid-day trading on Friday, reaching $17.42. 2,051,074 shares of the company traded hands, compared to its average volume of 2,023,114. The firm has a market cap of $1.75 billion, a PE ratio of -9.90 and a beta of 2.35. The company's 50 day moving average price is $20.25 and its 200-day moving average price is $24.36. Beam Therapeutics Inc. has a 52 week low of $13.52 and a 52 week high of $35.25.

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 analysts' expectations of $14.69 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) EPS. On average, research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

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.