Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its stake in Beam Therapeutics by 30%, holding 35,000 shares valued at approximately $684,000 after selling 15,000 shares.
• Institutional investors and hedge funds own a substantial 99.68% of Beam Therapeutics' stock, reflecting significant support for the company.
• Several analysts have recently adjusted their price targets for Beam Therapeutics, with Barclays lowering their target from $31 to $25, while HC Wainwright maintained a "buy" rating with an $80 price objective.

Raiffeisen Bank International AG decreased its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,000 shares of the company's stock after selling 15,000 shares during the period. Raiffeisen Bank International AG's holdings in Beam Therapeutics were worth $684,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Beam Therapeutics during the 4th quarter valued at about $43,000. Sterling Capital Management LLC increased its stake in Beam Therapeutics by 816.0% during the 4th 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 period. CWM LLC grew its stake in shares of Beam Therapeutics by 79.8% in 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 stake in shares of Beam Therapeutics by 20.4% in 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. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $191,000. Institutional investors and hedge funds own 99.68% of the company's stock.

Wall Street Analyst Weigh In

BEAM has been the topic of several recent research reports. Barclays lowered their price objective on shares of Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Guggenheim lowered their price objective on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Cantor Fitzgerald raised shares of Beam Therapeutics to a "strong-buy" rating in a research report on Monday, July 21st. Wells Fargo & Company decreased their target price on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Beam Therapeutics in a report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Beam Therapeutics has a consensus rating of "Buy" and a consensus target price of $48.75.

Beam Therapeutics Stock Up 1.5%

BEAM opened at $19.12 on Tuesday. The company has a 50-day simple moving average of $18.67 and a 200 day simple moving average of $21.17. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.15 and a beta of 2.22. Beam Therapeutics Inc. has a twelve month low of $13.52 and a twelve month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 609.24% and a negative return on equity of 44.24%. The company had revenue of $7.47 million during the quarter, compared to the consensus estimate of $14.69 million. During the same period in the previous year, the company earned ($1.21) EPS. Beam Therapeutics's revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Insider Activity at Beam Therapeutics

In related 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 represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 49,624 shares of company stock valued at $1,015,628. 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.

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