UBS Group AG Sells 163,790 Shares of Beam Therapeutics Inc. $BEAM

Key Points

• UBS Group AG trimmed its Beam Therapeutics stake by 14.4% in the fourth quarter, selling 163,790 shares and leaving it with 973,843 shares valued at about $27 million.
• Beam Therapeutics reported better-than-expected quarterly results, posting EPS of -$0.91 versus estimates of -$1.03 and revenue of $31.74 million, far above the $10.98 million forecast.
• Insiders and analysts remain active on the stock: CEO John M. Evans and insider Amy Simon both sold shares, while Wall Street maintains a Moderate Buy consensus with an average price target of $47.17.

UBS Group AG reduced its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 973,843 shares of the company's stock after selling 163,790 shares during the quarter. UBS Group AG owned approximately 0.96% of Beam Therapeutics worth $26,995,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in Beam Therapeutics by 15.4% during the 4th quarter. CWM LLC now owns 2,466 shares of the company's stock worth $68,000 after purchasing an additional 329 shares during the last quarter. Wealth Effects LLC raised its holdings in Beam Therapeutics by 4.3% in the 4th quarter. Wealth Effects LLC now owns 9,600 shares of the company's stock valued at $266,000 after acquiring an additional 400 shares in the last quarter. Arizona State Retirement System raised its holdings in Beam Therapeutics by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 26,771 shares of the company's stock valued at $650,000 after acquiring an additional 580 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 707 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Beam Therapeutics by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,931 shares of the company's stock valued at $137,000 after purchasing an additional 1,020 shares during the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 30,078 shares of the company'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 transaction of $739,317.24. Following the transaction, the chief executive officer directly owned 1,047,205 shares of the company's stock, valued at approximately $25,740,298.90. This represents a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, insider Amy Simon sold 6,700 shares of the company'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 directly owned 102,735 shares in the company, valued at approximately $2,525,226.30. This trade represents a 6.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold a total of 79,544 shares of company stock valued at $1,899,942 in the last 90 days. Corporate insiders own 3.80% of the company's stock.

Beam Therapeutics Price Performance

Shares of Beam Therapeutics stock opened at $32.32 on Monday. Beam Therapeutics Inc. has a one year low of $15.35 and a one year high of $36.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The stock's 50-day moving average is $27.21 and its 200 day moving average is $27.07. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -47.53 and a beta of 2.26.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its 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. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The company had revenue of $31.74 million for the quarter, compared to analyst estimates of $10.98 million. During the same quarter in the prior year, the company earned ($1.23) EPS. The firm's revenue for the quarter was up 323.2% compared to the same quarter last year. Equities research analysts anticipate that Beam Therapeutics Inc. will post -4.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BEAM shares. Canaccord Genuity Group began coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a "buy" rating and a $74.00 price target on the stock. Royal Bank Of Canada boosted their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 25th. Citigroup boosted their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Wedbush boosted their price objective on Beam Therapeutics from $57.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Beam Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.17.

Beam Therapeutics Company 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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