American Century Companies Inc. Has $1.94 Million Stock Position in Beam Therapeutics Inc. $BEAM

American Century Companies Inc. trimmed its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 26.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,561 shares of the company's stock after selling 35,819 shares during the period. American Century Companies Inc. owned approximately 0.10% of Beam Therapeutics worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Beam Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company's stock valued at $173,256,000 after buying an additional 1,249,303 shares during the period. ARK Investment Management LLC raised its position in Beam Therapeutics by 20.0% during the first quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company's stock valued at $165,616,000 after buying an additional 1,412,060 shares during the period. Farallon Capital Management LLC raised its position in Beam Therapeutics by 0.4% during the fourth quarter. Farallon Capital Management LLC now owns 8,239,123 shares of the company's stock valued at $204,330,000 after buying an additional 31,000 shares during the period. Nikko Asset Management Americas Inc. raised its position in Beam Therapeutics by 7.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,270,020 shares of the company's stock valued at $83,265,000 after buying an additional 312,409 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Beam Therapeutics by 7.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,266,871 shares of the company's stock valued at $83,332,000 after buying an additional 309,260 shares during the period. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Fmr Llc sold 48,374 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $20.50, for a total transaction of $991,667.00. Following the completion of the transaction, the insider owned 2,073,665 shares of the company's stock, valued at approximately $42,510,132.50. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 49,624 shares of company stock worth $1,015,628. 3.50% of the stock is currently owned by insiders.

Beam Therapeutics Trading Up 12.6%

NASDAQ BEAM traded up $2.34 on Friday, reaching $20.88. The stock had a trading volume of 4,720,561 shares, compared to its average volume of 2,594,498. The business has a 50 day moving average price of $18.84 and a 200 day moving average price of $19.47. 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 $2.11 billion, a price-to-earnings ratio of -4.64 and a beta of 2.14.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BEAM. Barclays dropped their price target on Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen upgraded Beam Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Cantor Fitzgerald upgraded Beam Therapeutics to a "strong-buy" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Beam Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $48.45.

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.