Jacobs Levy Equity Management Inc. Takes Position in Beam Therapeutics Inc. $BEAM

Key Points

• Jacobs Levy Equity Management Inc. acquired 43,199 shares of Beam Therapeutics, valued at approximately $844,000, during the first quarter.
• Insider selling activity included Fmr Llc selling 48,374 shares for $991,667, reducing their ownership by 2.28%.
• Beam Therapeutics has seen mixed analyst ratings recently, with Barclays lowering its price target while Cantor Fitzgerald upgraded it to a strong-buy rating.

Jacobs Levy Equity Management Inc. purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 43,199 shares of the company's stock, valued at approximately $844,000.

Several other large investors have also modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Beam Therapeutics during the 4th quarter worth approximately $43,000. CWM LLC grew its position in Beam Therapeutics by 79.8% during the 1st quarter. CWM LLC now owns 2,684 shares of the company's stock worth $52,000 after purchasing an additional 1,191 shares during the last quarter. Amalgamated Bank grew its position in Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company's stock worth $62,000 after purchasing an additional 534 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Beam Therapeutics during the 1st quarter worth approximately $87,000. Finally, Quarry LP grew its position in Beam Therapeutics by 200.0% during the 1st quarter. Quarry LP now owns 4,500 shares of the company's stock worth $88,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on BEAM shares. Cantor Fitzgerald raised shares of Beam Therapeutics to a "strong-buy" rating in a research report on Monday, July 21st. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Monday. Barclays dropped their price objective on shares of Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Beam Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Beam Therapeutics presently has an average rating of "Buy" and a consensus target price of $46.40.

Beam Therapeutics Stock Performance

NASDAQ BEAM traded up $2.65 during mid-day trading on Thursday, reaching $25.10. 3,823,210 shares of the stock were exchanged, compared to its average volume of 2,779,244. The business's 50 day moving average is $19.18 and its 200-day moving average is $19.09. Beam Therapeutics Inc. has a 1 year low of $13.52 and a 1 year high of $35.25. The company has a market capitalization of $2.54 billion, a P/E ratio of -5.58 and a beta of 2.14.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.04. Beam Therapeutics had a negative net margin of 661.31% and a negative return on equity of 43.15%. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $13.29 million. During the same period in the prior year, the firm posted ($1.11) earnings per share. The firm's quarterly revenue was down 28.0% compared to the same quarter last year. Equities analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total transaction of $991,667.00. Following the transaction, the insider directly owned 2,073,665 shares of the company's stock, valued at $42,510,132.50. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 49,624 shares of company stock worth $1,015,628 over the last quarter. Corporate insiders own 3.50% of the company's stock.

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.