ADAR1 Capital Management LLC Buys Shares of 1,446,375 Beam Therapeutics Inc. $BEAM

ADAR1 Capital Management LLC bought a new position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,446,375 shares of the company's stock, valued at approximately $34,467,000. Beam Therapeutics accounts for about 2.0% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. ADAR1 Capital Management LLC owned approximately 1.41% of Beam Therapeutics at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in Beam Therapeutics by 12.9% during the fourth quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company's stock valued at $345,590,000 after acquiring an additional 1,428,355 shares during the last quarter. MWG Caph Ltd purchased a new position in shares of Beam Therapeutics during the fourth quarter valued at $35,119,000. State Street Corp lifted its position in shares of Beam Therapeutics by 30.4% in the 4th quarter. State Street Corp now owns 5,228,529 shares of the company's stock worth $144,935,000 after purchasing an additional 1,219,871 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Beam Therapeutics by 237.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,665,385 shares of the company's stock worth $40,419,000 after buying an additional 1,171,977 shares during the period. Finally, Marshall Wace LLP bought a new stake in Beam Therapeutics during the fourth quarter valued at about $26,218,000. Hedge funds and other institutional investors own 99.68% of the company's stock.

Beam Therapeutics Stock Up 4.9%

Shares of BEAM opened at $26.29 on Wednesday. The company's 50-day moving average price is $31.12 and its 200 day moving average price is $29.24. The company has a current ratio of 16.99, a quick ratio of 16.99 and a debt-to-equity ratio of 0.09. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $38.26. The firm has a market cap of $2.70 billion, a P/E ratio of -38.66 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.12. The firm had revenue of $31.74 million during the quarter, compared to analysts' expectations of $10.98 million. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The firm's quarterly revenue was up 323.2% on a year-over-year basis. During the same quarter last year, the company posted ($1.23) EPS. On average, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.

Insider Activity

In other news, insider Fmr Llc sold 251,488 shares of Beam Therapeutics stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88. Following the completion of the transaction, the insider owned 854,583 shares in the company, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Sanford C. Bernstein decreased their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Bank of America reiterated a "buy" rating and set a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Finally, Tudor Pickering set a $39.00 price objective on Beam Therapeutics in a report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.85.

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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