Squarepoint Ops LLC Buys Shares of 155,278 Beam Therapeutics Inc. (NASDAQ:BEAM)

Squarepoint Ops LLC acquired a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 155,278 shares of the company's stock, valued at approximately $3,851,000. Squarepoint Ops LLC owned 0.19% of Beam Therapeutics at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BEAM. ARK Investment Management LLC lifted its holdings in shares of Beam Therapeutics by 8.2% during the 4th quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company's stock worth $175,287,000 after acquiring an additional 536,930 shares during the period. Casdin Capital LLC raised its holdings 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. Nikko Asset Management Americas Inc. raised its holdings in Beam Therapeutics by 11.4% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company's stock valued at $98,109,000 after buying an additional 404,782 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Beam Therapeutics by 11.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company's stock valued at $98,149,000 after buying an additional 404,782 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Beam Therapeutics by 24.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,538,398 shares of the company's stock valued at $38,155,000 after buying an additional 298,067 shares during the period. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now directly owns 986,249 shares of the company's stock, valued at $18,097,669.15. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine Bellon sold 5,674 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the transaction, the insider now directly owns 117,294 shares in the company, valued at approximately $2,152,344.90. This trade represents a 4.61% 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 valued at $803,198 over the last ninety days. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

BEAM has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Barclays lowered their price objective on shares of Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Guggenheim lowered their price objective on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada increased their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $48.75.

Beam Therapeutics Price Performance

Shares of BEAM traded down $0.58 during mid-day trading on Friday, hitting $15.74. The company's stock had a trading volume of 2,293,689 shares, compared to its average volume of 1,467,965. The firm has a 50-day moving average price of $17.74 and a 200 day moving average price of $23.57. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -8.94 and a beta of 2.35. Beam Therapeutics Inc. has a fifty-two week low of $13.53 and a fifty-two week high of $35.25.

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

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.