Himension Capital Singapore PTE. LTD. Makes New $1.48 Million Investment in Beam Therapeutics Inc. $BEAM

Key Points

• Himension Capital Singapore PTE. LTD. opened a new position in Beam Therapeutics during the first quarter, buying 62,089 shares worth about $1.48 million.
• Beam Therapeutics reported stronger-than-expected quarterly results, with EPS of -$0.91 versus the -$1.03 estimate and revenue of $31.74 million, up 323.2% year over year.
• Wall Street remains broadly positive on the stock: analysts have a Moderate Buy consensus with an average target price of $46.85, though one recent insider sale trimmed ownership significantly.

Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 62,089 shares of the company's stock, valued at approximately $1,480,000. Himension Capital Singapore PTE. LTD. owned approximately 0.06% of Beam Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich bought a new position in Beam Therapeutics during the 4th quarter worth about $47,000. Hollencrest Capital Management bought a new position in shares of Beam Therapeutics during the first quarter worth about $43,000. Larson Financial Group LLC grew its holdings in shares of Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after buying an additional 1,923 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Beam Therapeutics in the 4th quarter valued at approximately $59,000. Finally, Van ECK Associates Corp raised its position in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock valued at $52,000 after buying an additional 707 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Performance

BEAM opened at $27.29 on Wednesday. Beam Therapeutics Inc. has a 52-week low of $15.60 and a 52-week high of $38.26. The firm has a market capitalization of $2.81 billion, a PE ratio of -40.13 and a beta of 2.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. The business's 50-day simple moving average is $31.39 and its 200 day simple moving average is $29.31.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly 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. The firm had revenue of $31.74 million during the quarter, compared to analysts' expectations of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The business's quarterly revenue was up 323.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.23) earnings per share. As a group, sell-side analysts expect that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on BEAM. Bank of America restated a "buy" rating and issued a $47.00 target price on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Sanford C. Bernstein lowered their price objective on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Citigroup lifted their price objective on shares of Beam Therapeutics from $64.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, March 26th. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Beam Therapeutics in a report on Friday. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.85.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Fmr Llc sold 251,488 shares of the firm's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total value of $8,867,466.88. Following the completion of the transaction, the insider directly owned 854,583 shares of the company's stock, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company's stock.

Beam Therapeutics Profile

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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