Mirae Asset Global Investments Co. Ltd. Has $4.53 Million Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,375 shares of the company's stock after selling 159,307 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.20% of Beam Therapeutics worth $4,529,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in Beam Therapeutics by 68.4% in the second quarter. State Street Corp now owns 3,336,327 shares of the company's stock valued at $129,149,000 after purchasing an additional 1,354,781 shares during the last quarter. BlackRock Inc. increased its holdings in Beam Therapeutics by 20.0% in the second quarter. BlackRock Inc. now owns 6,350,776 shares of the company's stock valued at $202,780,000 after purchasing an additional 1,060,104 shares during the last quarter. Vanguard Group Inc. increased its holdings in Beam Therapeutics by 17.7% in the third quarter. Vanguard Group Inc. now owns 6,174,471 shares of the company's stock valued at $294,153,000 after purchasing an additional 927,970 shares during the last quarter. ARK Investment Management LLC increased its holdings in Beam Therapeutics by 6.9% in the fourth quarter. ARK Investment Management LLC now owns 9,393,889 shares of the company's stock valued at $255,702,000 after purchasing an additional 609,998 shares during the last quarter. Finally, Norges Bank bought a new stake in Beam Therapeutics in the fourth quarter valued at about $19,477,000. Institutional investors and hedge funds own 99.68% of the company's stock.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 60,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,058,262 shares of the company's stock, valued at $26,805,776.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO John M. Evans sold 60,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,058,262 shares of the company's stock, valued at $26,805,776.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fmr Llc sold 1,565 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $30.76, for a total value of $48,139.40. Following the transaction, the insider now directly owns 2,771,913 shares of the company's stock, valued at $85,264,043.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,804 shares of company stock valued at $4,731,669. Insiders own 4.40% of the company's stock.

Analyst Ratings Changes

BEAM has been the subject of a number of recent analyst reports. TheStreet upgraded Beam Therapeutics from a "d" rating to a "c-" rating in a report on Monday, March 11th. Wedbush restated an "outperform" rating and issued a $57.00 price target (up from $48.00) on shares of Beam Therapeutics in a report on Tuesday, February 27th. Barclays increased their price target on Beam Therapeutics from $26.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upgraded Beam Therapeutics from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $38.00 to $40.00 in a report on Monday, January 29th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Wednesday, March 27th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Beam Therapeutics has a consensus rating of "Hold" and an average target price of $41.00.

Beam Therapeutics Stock Performance

Shares of NASDAQ:BEAM remained flat at $25.70 during mid-day trading on Tuesday. The company had a trading volume of 1,676,011 shares, compared to its average volume of 1,393,133. The company has a market capitalization of $2.10 billion, a P/E ratio of -13.53 and a beta of 1.77. Beam Therapeutics Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $49.50. The business's 50 day moving average price is $33.28 and its 200 day moving average price is $28.04.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $2.42. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The business had revenue of $316.20 million during the quarter, compared to the consensus estimate of $34.16 million. During the same period last year, the company earned ($0.54) earnings per share. Beam Therapeutics's quarterly revenue was up 1481.0% on a year-over-year basis. As a group, research analysts forecast that Beam Therapeutics Inc. will post -5.53 EPS for the current fiscal year.

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.