Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Bought by Twinbeech Capital LP

Twinbeech Capital LP lifted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 119.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,664 shares of the company's stock after purchasing an additional 69,456 shares during the period. Twinbeech Capital LP owned about 0.15% of Beam Therapeutics worth $3,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Advisers LP boosted its holdings in shares of Beam Therapeutics by 77.6% in the fourth quarter. Two Sigma Advisers LP now owns 19,000 shares of the company's stock valued at $471,000 after acquiring an additional 8,300 shares during the period. Two Sigma Investments LP grew its holdings in shares of Beam Therapeutics by 75.2% during the fourth quarter. Two Sigma Investments LP now owns 117,088 shares of the company's stock worth $2,904,000 after buying an additional 50,271 shares during the last quarter. State of Wyoming grew its stake in shares of Beam Therapeutics by 120.0% in the 4th quarter. State of Wyoming now owns 9,049 shares of the company's stock valued at $224,000 after purchasing an additional 4,936 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Beam Therapeutics during the fourth quarter worth $1,264,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Beam Therapeutics in the 4th quarter valued at $191,000. 99.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Giuseppe Ciaramella sold 7,434 shares of the 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 $136,413.90. Following the sale, the president now directly owns 190,216 shares in the company, valued at approximately $3,490,463.60. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Evans sold 30,663 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now owns 986,249 shares of the company's stock, valued at approximately $18,097,669.15. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,771 shares of company stock worth $803,198 in the last quarter. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BEAM has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Scotiabank raised shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 target price for the company in a report on Monday, March 10th. Bank of America raised Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a research note on Friday, March 28th. Wells Fargo & Company decreased their target price on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays dropped their price target on 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. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $48.75.

Beam Therapeutics Trading Down 2.4%

BEAM traded down $0.41 during midday trading on Monday, hitting $16.83. The company's stock had a trading volume of 962,009 shares, compared to its average volume of 1,453,560. Beam Therapeutics Inc. has a 52-week low of $13.53 and a 52-week high of $35.25. The firm has a 50-day moving average price of $18.43 and a two-hundred day moving average price of $23.94. The firm has a market cap of $1.69 billion, a P/E ratio of -9.56 and a beta of 2.35.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results 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 company 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%. Beam Therapeutics's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted ($1.21) earnings per share. On average, equities analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

About Beam Therapeutics

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.