Beam Therapeutics Inc. $BEAM Stock Holdings Boosted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Beam Therapeutics by 19.6%, owning 776,445 shares valued at approximately $15.16 million.
• Beam Therapeutics’ stock has experienced a 3.9% increase in trading, with a current share price of $16.64 and a market capitalization of $1.68 billion.
• The company recently reported an EPS of ($1.00), exceeding expectations but showing a 28% year-over-year revenue decline to $8.47 million.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 776,445 shares of the company's stock after purchasing an additional 127,500 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Beam Therapeutics worth $15,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ARK Investment Management LLC grew its holdings in Beam Therapeutics by 20.0% during the 1st quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company's stock worth $165,616,000 after acquiring an additional 1,412,060 shares during the period. Vanguard Group Inc. grew its stake in Beam Therapeutics by 16.4% in the 1st 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 in the last quarter. Casdin Capital LLC grew its position in Beam Therapeutics by 61.3% in the fourth quarter. Casdin Capital LLC now owns 1,250,000 shares of the company's stock worth $31,000,000 after acquiring an additional 475,000 shares in the last quarter. Nikko Asset Management Americas Inc. boosted 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 stake in shares of 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 acquiring an additional 309,260 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Trading Down 2.9%

Shares of Beam Therapeutics stock traded down $0.49 during trading on Friday, reaching $16.36. The company's stock had a trading volume of 1,897,598 shares, compared to its average volume of 2,433,811. The firm has a market cap of $1.65 billion, a PE ratio of -3.64 and a beta of 2.22. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $35.25. The company has a 50-day moving average price of $18.72 and a two-hundred day moving average price of $20.02.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($1.00) 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 company had revenue of $8.47 million during the quarter, compared to the consensus estimate of $13.29 million. During the same quarter in the prior year, the firm earned ($1.11) EPS. Beam Therapeutics's quarterly revenue was down 28.0% on a year-over-year basis. On average, analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BEAM has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Guggenheim dropped their price target on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Cantor Fitzgerald raised shares of Beam Therapeutics to a "strong-buy" rating in a research report on Monday, July 21st. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $48.45.

Insider Buying and Selling at Beam Therapeutics

In other news, insider Fmr Llc sold 48,374 shares of the stock in a transaction dated 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 in the company, valued at $42,510,132.50. This represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 49,624 shares of company stock worth $1,015,628. Corporate insiders own 3.50% of the company's stock.

About Beam Therapeutics

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.