Deutsche Bank AG Purchases 23,871 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

Deutsche Bank AG boosted its position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 54.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,508 shares of the company's stock after buying an additional 23,871 shares during the period. Deutsche Bank AG owned approximately 0.08% of Beam Therapeutics worth $1,674,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Crestline Management LP lifted its stake in shares of Beam Therapeutics by 261.6% in the 4th quarter. Crestline Management LP now owns 62,969 shares of the company's stock valued at $1,562,000 after purchasing an additional 45,554 shares during the period. Casdin Capital LLC lifted its stake in Beam Therapeutics by 61.3% in the fourth quarter. Casdin Capital LLC now owns 1,250,000 shares of the company's stock valued at $31,000,000 after buying an additional 475,000 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Beam Therapeutics by 49.3% during the 4th quarter. Benjamin Edwards Inc. now owns 24,358 shares of the company's stock worth $604,000 after buying an additional 8,043 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Beam Therapeutics during the 4th quarter worth approximately $237,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Beam Therapeutics during the 4th quarter worth approximately $229,000. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Stock Down 3.3%

BEAM stock traded down $0.56 during midday trading on Thursday, hitting $16.32. The company's stock had a trading volume of 2,312,377 shares, compared to its average volume of 1,461,607. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -9.27 and a beta of 2.35. The stock's 50-day moving average price is $17.89 and its 200 day moving average price is $23.68. Beam Therapeutics Inc. has a 1 year low of $13.53 and a 1 year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company had revenue of $7.47 million during the quarter, compared to analysts' expectations of $14.69 million. During the same period last year, the firm posted ($1.21) earnings per share. Beam Therapeutics's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on BEAM shares. Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective on the stock in a research report on Monday, March 10th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, April 7th. Wells Fargo & Company cut their price target on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Bank of America raised Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Beam Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $48.75.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the transaction, the chief executive officer now directly owns 986,249 shares of the company's stock, valued at approximately $18,097,669.15. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $136,413.90. Following the completion of the sale, the president now owns 190,216 shares in the company, valued at approximately $3,490,463.60. The trade was a 3.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,771 shares of company stock worth $803,198 over the last three months. 4.20% of the stock is currently owned by insiders.

Beam Therapeutics 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.