Twinbeech Capital LP Has $3.17 Million Stake in Beam Therapeutics Inc. (NASDAQ:BEAM)

Twinbeech Capital LP raised its holdings in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 119.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,664 shares of the company's stock after acquiring an additional 69,456 shares during the quarter. Twinbeech Capital LP owned 0.15% of Beam Therapeutics worth $3,166,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in Beam Therapeutics during the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC lifted its holdings in Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after acquiring an additional 2,146 shares during the last quarter. KBC Group NV lifted its position in shares of Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock valued at $103,000 after acquiring an additional 2,104 shares in the last quarter. Blue Trust Inc. lifted its position in Beam Therapeutics by 36.3% in the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after buying an additional 1,139 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Beam Therapeutics in the fourth quarter worth approximately $191,000. Institutional investors and hedge funds own 99.68% of the company's stock.

Beam Therapeutics Trading Down 2.4%

BEAM stock traded down $0.41 during midday trading on Friday, hitting $16.83. 962,009 shares of the company's stock were exchanged, compared to its average volume of 1,449,287. Beam Therapeutics Inc. has a 1-year low of $13.53 and a 1-year high of $35.25. The stock has a market capitalization of $1.69 billion, a PE ratio of -9.56 and a beta of 2.35. The business has a 50-day simple moving average of $18.43 and a two-hundred day simple moving average of $23.98.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Scotiabank upgraded shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price target on the stock in a research note on Monday, March 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Wedbush reiterated an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th. Barclays dropped their target price on Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price target on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $48.75.

Insider Activity at Beam Therapeutics

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

Beam Therapeutics 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.