MWG Caph Ltd Invests $35.12 Million in Beam Therapeutics Inc. $BEAM

Key Points

• MWG Caph Ltd disclosed a new stake in Beam Therapeutics, buying 1,266,934 shares valued at about $35.1 million. The position represents nearly half of MWG Caph’s portfolio and about 1.25% of Beam Therapeutics.
• Institutional interest in Beam remains strong, with firms like ARK Investment Management, State Street, UBS AM and Marshall Wace also increasing or initiating holdings. The stock is now 99.68% owned by institutional investors.
• Beam Therapeutics beat quarterly earnings expectations and revenue surged 323.2% year over year, while analysts currently rate the stock a Moderate Buy with an average price target of $46.83. The shares were also up 4.8% in the latest session, trading near $32.48.

MWG Caph Ltd acquired a new position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,266,934 shares of the company's stock, valued at approximately $35,119,000. Beam Therapeutics makes up approximately 48.5% of MWG Caph Ltd's portfolio, making the stock its largest position. MWG Caph Ltd owned approximately 1.25% of Beam Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. ARK Investment Management LLC grew its stake in shares of Beam Therapeutics by 24.8% in the 3rd quarter. ARK Investment Management LLC now owns 11,038,834 shares of the company's stock valued at $267,913,000 after buying an additional 2,190,993 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in shares of Beam Therapeutics in the 3rd quarter valued at about $37,212,000. State Street Corp grew its stake in shares of Beam Therapeutics by 30.4% in the 4th quarter. State Street Corp now owns 5,228,529 shares of the company's stock valued at $144,935,000 after buying an additional 1,219,871 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Beam Therapeutics by 237.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,665,385 shares of the company's stock valued at $40,419,000 after buying an additional 1,171,977 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Beam Therapeutics in the 4th quarter valued at about $26,218,000. 99.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Amy Simon sold 6,700 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $164,686.00. Following the transaction, the insider owned 102,735 shares in the company, valued at $2,525,226.30. The trade was a 6.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John M. Evans sold 30,078 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $739,317.24. Following the completion of the transaction, the chief executive officer owned 1,047,205 shares in the company, valued at $25,740,298.90. The trade was a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 79,544 shares of company stock worth $1,899,942 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen upgraded Beam Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Royal Bank Of Canada raised their target price on Beam Therapeutics from $22.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 25th. Canaccord Genuity Group assumed coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a "buy" rating and a $74.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Monday, April 20th. Finally, Sanford C. Bernstein cut their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.83.

Beam Therapeutics Stock Up 4.8%

Shares of NASDAQ:BEAM opened at $32.48 on Thursday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -47.76 and a beta of 2.25. The company has a quick ratio of 16.99, a current ratio of 16.99 and a debt-to-equity ratio of 0.09. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $36.44. The business's 50 day moving average is $29.83 and its 200 day moving average is $28.27.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $31.74 million for the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the previous year, the business earned ($1.23) EPS. The company's revenue was up 323.2% compared to the same quarter last year. On average, sell-side analysts forecast that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.

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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