Dimensional Fund Advisors LP Has $51.33 Million Stock Position in Beam Therapeutics Inc. $BEAM

Key Points

• Dimensional Fund Advisors increased its Beam Therapeutics stake by 10.6% in the first quarter, holding 2.15 million shares worth approximately $51.3 million, or 2.1% of the company.
• Beam reported a quarterly loss of $0.91 per share, beating estimates of a $1.03 loss, while revenue surged 323.2% year over year to $31.74 million. The stock opened at $25.52, compared with a 52-week range of $15.60 to $38.26.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $46.85, although insiders sold about $10.5 million of shares over the past three months.

Dimensional Fund Advisors LP grew its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 10.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,154,575 shares of the company's stock after acquiring an additional 206,696 shares during the period. Dimensional Fund Advisors LP owned about 2.10% of Beam Therapeutics worth $51,327,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Beam Therapeutics in the fourth quarter worth $47,000. Larson Financial Group LLC raised its position in Beam Therapeutics by 4,370.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after purchasing an additional 1,923 shares during the last quarter. Van ECK Associates Corp raised its position in Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock worth $52,000 after purchasing an additional 707 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Beam Therapeutics during the 4th quarter worth about $59,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Beam Therapeutics by 1,248.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company's stock worth $65,000 after buying an additional 3,534 shares during the period. Institutional investors and hedge funds own 99.68% of the company's stock.

Beam Therapeutics Stock Performance

BEAM stock opened at $25.52 on Monday. The firm has a market cap of $2.63 billion, a PE ratio of -37.53 and a beta of 2.18. The company has a current ratio of 16.99, a quick ratio of 16.99 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $31.01 and a 200-day moving average price of $29.16. Beam Therapeutics Inc. has a 1-year low of $15.60 and a 1-year high of $38.26.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, beating 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 company had revenue of $31.74 million for the quarter, compared to analyst estimates of $10.98 million. During the same quarter in the prior year, the company earned ($1.23) EPS. The firm's revenue for the quarter was up 323.2% compared to the same quarter last year. As a group, equities research analysts expect that Beam Therapeutics Inc. will post -4.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Tudor Pickering set a $39.00 price target on Beam Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a report on Tuesday, July 7th. Bank of America reissued a "buy" rating and set a $47.00 target price on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein lowered their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.85.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Fmr Llc sold 251,488 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the transaction, the insider directly owned 854,583 shares in the company, valued at approximately $30,132,596.58. This represents a 22.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy Simon sold 16,667 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the sale, the insider directly owned 85,696 shares of the company's stock, valued at approximately $2,205,815.04. This trade represents a 16.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 301,527 shares of company stock worth $10,468,500. Insiders own 3.80% of the company's stock.

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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