Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 54.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,508 shares of the company's stock after acquiring an additional 23,871 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Beam Therapeutics worth $1,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC acquired a new position in Beam Therapeutics in the 4th quarter valued at $41,000. Sterling Capital Management LLC grew its position in Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock worth $60,000 after acquiring an additional 2,146 shares during the last quarter. KBC Group NV grew its position in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after acquiring an additional 2,104 shares during the last quarter. Blue Trust Inc. grew its position in shares of Beam Therapeutics by 36.3% in the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock valued at $105,000 after buying an additional 1,139 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Beam Therapeutics by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,999 shares of the company's stock valued at $198,000 after buying an additional 496 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Stock Performance

NASDAQ BEAM traded down $0.48 during trading on Thursday, hitting $16.40. The stock had a trading volume of 943,544 shares, compared to its average volume of 1,453,789. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -9.32 and a beta of 2.35. Beam Therapeutics Inc. has a one year low of $13.53 and a one year high of $35.25. The stock has a 50 day simple moving average of $18.04 and a 200 day simple moving average of $23.78.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $7.47 million for the quarter, compared to the consensus estimate of $14.69 million. During the same period in the prior year, the firm posted ($1.21) EPS. The business's revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts predict that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BEAM shares. Scotiabank upgraded Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 target price on the stock in a research report on Monday, March 10th. Jones Trading raised Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a research report on Monday, March 10th. Bank of America raised Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research report on Friday, March 28th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, April 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th. Two research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $48.75.

Insider Activity at Beam Therapeutics

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

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.