Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC raised its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,393,889 shares of the company's stock after buying an additional 609,998 shares during the quarter. Beam Therapeutics comprises approximately 1.5% of ARK Investment Management LLC's portfolio, making the stock its 21st biggest position. ARK Investment Management LLC owned 11.53% of Beam Therapeutics worth $255,702,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Point72 Middle East FZE purchased a new position in Beam Therapeutics during the 4th quarter valued at about $35,000. Allworth Financial LP grew its position in Beam Therapeutics by 163.7% during the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company's stock valued at $27,000 after purchasing an additional 686 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Beam Therapeutics during the 1st quarter valued at about $86,000. Penserra Capital Management LLC bought a new position in shares of Beam Therapeutics in the first quarter worth approximately $97,000. Finally, Captrust Financial Advisors grew its holdings in shares of Beam Therapeutics by 29.9% during the first quarter. Captrust Financial Advisors now owns 1,845 shares of the company's stock valued at $106,000 after buying an additional 425 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Insider Buying and Selling at Beam Therapeutics

In other news, insider Christine Bellon sold 1,907 shares of Beam Therapeutics stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $26.42, for a total value of $50,382.94. Following the sale, the insider now directly owns 80,495 shares of the company's stock, valued at $2,126,677.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the sale, the chief executive officer now directly owns 1,058,262 shares in the company, valued at $26,805,776.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christine Bellon sold 1,907 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $26.42, for a total value of $50,382.94. Following the completion of the transaction, the insider now owns 80,495 shares of the company's stock, valued at approximately $2,126,677.90. The disclosure for this sale can be found here. Insiders sold 63,472 shares of company stock valued at $1,618,322 in the last 90 days. Insiders own 4.40% of the company's stock.

Beam Therapeutics Stock Down 2.7 %

NASDAQ:BEAM traded down $0.92 on Thursday, reaching $33.04. 1,328,758 shares of the company's stock traded hands, compared to its average volume of 1,378,971. Beam Therapeutics Inc. has a 12 month low of $16.95 and a 12 month high of $49.50. The stock has a 50-day simple moving average of $32.42 and a 200-day simple moving average of $27.63. The firm has a market cap of $2.70 billion, a PE ratio of -17.39 and a beta of 1.80.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $2.42. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The business had revenue of $316.20 million during the quarter, compared to analyst estimates of $34.16 million. During the same period last year, the firm posted ($0.54) EPS. The company's revenue was up 1481.0% on a year-over-year basis. On average, equities analysts anticipate that Beam Therapeutics Inc. will post -5.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

BEAM has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "hold" rating and issued a $30.00 price objective (down from $75.00) on shares of Beam Therapeutics in a report on Friday, December 8th. Bank of America downgraded Beam Therapeutics from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a report on Friday, December 15th. TheStreet raised shares of Beam Therapeutics from a "d" rating to a "c-" rating in a report on Monday, March 11th. Barclays boosted their price objective on shares of Beam Therapeutics from $26.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $38.00 to $40.00 in a report on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.00.

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.