104,091 Shares in Beam Therapeutics Inc. $BEAM Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 104,091 Beam Therapeutics shares during the second quarter, valued at approximately $3.57 million, giving it a 0.10% stake. Institutional investors collectively own 99.68% of BEAM.
• Beam reported disappointing quarterly results, with an adjusted loss of $1.18 per share versus the $1.11 expected and revenue of $0.49 million, down 94.2% year over year. Analysts expect a full-year loss of $4.49 per share.
• BEAM shares opened at $30.19, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $49.00, implying potential upside.

Deutsche Bank AG purchased a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 104,091 shares of the company's stock, valued at approximately $3,572,000. Deutsche Bank AG owned 0.10% of Beam Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BEAM. ARK Investment Management LLC grew its position in shares of Beam Therapeutics by 12.9% during the fourth quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company's stock worth $345,590,000 after acquiring an additional 1,428,355 shares during the last quarter. State Street Corp raised its position in Beam Therapeutics by 30.4% in the 4th quarter. State Street Corp now owns 5,228,529 shares of the company's stock valued at $144,935,000 after purchasing an additional 1,219,871 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Beam Therapeutics by 20.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,730,282 shares of the company's stock worth $75,684,000 after purchasing an additional 467,133 shares during the period. Dimensional Fund Advisors LP grew its position in Beam Therapeutics by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company's stock worth $51,327,000 after purchasing an additional 206,696 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Beam Therapeutics by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,712,359 shares of the company's stock worth $47,467,000 after purchasing an additional 46,974 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, insider Fmr Llc sold 251,488 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the sale, the insider directly owned 854,583 shares in the company, valued at approximately $30,132,596.58. The trade was a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amy Simon sold 16,667 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the transaction, the insider directly owned 85,696 shares in the company, valued at approximately $2,205,815.04. This trade represents a 16.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 301,527 shares of company stock valued at $10,468,500 in the last quarter. 3.80% of the stock is currently owned by company insiders.

Beam Therapeutics Price Performance

Shares of BEAM opened at $30.19 on Thursday. The company has a current ratio of 14.57, a quick ratio of 14.57 and a debt-to-equity ratio of 0.09. The stock's 50 day moving average is $30.01 and its two-hundred day moving average is $28.83. Beam Therapeutics Inc. has a twelve month low of $16.02 and a twelve month high of $38.26. The firm has a market capitalization of $3.12 billion, a PE ratio of -35.10 and a beta of 2.23.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.07). The business had revenue of $0.49 million for the quarter, compared to analysts' expectations of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%.The business's quarterly revenue was down 94.2% on a year-over-year basis. During the same period last year, the company posted ($1.00) earnings per share. Research analysts anticipate that Beam Therapeutics Inc. will post -4.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Tuesday. Wall Street Zen cut Beam Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Sunday, August 16th. Tudor Pickering set a $39.00 target price on Beam Therapeutics in a report on Wednesday, May 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Finally, Sanford C. Bernstein lowered their price objective on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Beam Therapeutics Profile

Beam Therapeutics, Inc NASDAQ: BEAM is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.

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