BNP Paribas Financial Markets Raises Position in Beam Therapeutics Inc. $BEAM

Key Points

• BNP Paribas Financial Markets dramatically increased its stake in Beam Therapeutics in Q4, boosting its holdings by 1,856% to 468,910 shares valued at about $13 million.
• Institutional ownership remains overwhelmingly high, with hedge funds and other investors controlling 99.68% of Beam Therapeutics’ shares. Several large funds, including ARK Investment Management and Farallon Capital, also added to their positions.
• Analysts remain broadly constructive on the stock: the consensus rating is Moderate Buy with an average price target of $46.83, while the company recently beat quarterly EPS and revenue estimates.

BNP Paribas Financial Markets lifted its stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 1,856.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 468,910 shares of the company's stock after buying an additional 444,940 shares during the period. BNP Paribas Financial Markets owned approximately 0.46% of Beam Therapeutics worth $12,998,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. ARK Investment Management LLC lifted its stake in shares of Beam Therapeutics by 24.8% in the third quarter. ARK Investment Management LLC now owns 11,038,834 shares of the company's stock worth $267,913,000 after acquiring an additional 2,190,993 shares in the last quarter. Farallon Capital Management LLC raised its stake in Beam Therapeutics by 0.5% during the third quarter. Farallon Capital Management LLC now owns 10,063,111 shares of the company's stock valued at $244,232,000 after buying an additional 50,000 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in Beam Therapeutics by 2.2% during the third quarter. Amova Asset Management Americas Inc. now owns 4,830,738 shares of the company's stock valued at $117,242,000 after buying an additional 103,939 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 valued at $40,419,000 after buying an additional 1,171,977 shares in the last quarter. Finally, Casdin Capital LLC raised its stake in Beam Therapeutics by 10.3% during the third quarter. Casdin Capital LLC now owns 1,600,000 shares of the company's stock valued at $38,832,000 after buying an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Sanford C. Bernstein dropped their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Wedbush increased their price target on Beam Therapeutics from $57.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Citigroup increased their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Wall Street Zen raised Beam Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada increased their price target on Beam Therapeutics from $22.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Beam Therapeutics has an average rating of "Moderate Buy" and an average target price of $46.83.

Insider Transactions at Beam Therapeutics

In related news, insider Christine Bellon sold 5,956 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $146,398.48. Following the completion of the sale, the insider directly owned 109,711 shares in the company, valued at approximately $2,696,696.38. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John M. Evans sold 30,078 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $739,317.24. Following the transaction, the chief executive officer owned 1,047,205 shares in the company, valued at approximately $25,740,298.90. This trade represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 79,544 shares of company stock valued at $1,899,942 in the last three months. 3.80% of the stock is currently owned by insiders.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM opened at $29.40 on Monday. 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 1 year low of $15.60 and a 1 year high of $36.44. The business has a fifty day simple moving average of $28.77 and a 200 day simple moving average of $27.86. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -43.23 and a beta of 2.25.

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

About Beam Therapeutics

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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