Susquehanna Fundamental Investments LLC Acquires New Shares in Beam Therapeutics Inc. (NASDAQ:BEAM)

Susquehanna Fundamental Investments LLC purchased a new position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 52,725 shares of the company's stock, valued at approximately $1,308,000. Susquehanna Fundamental Investments LLC owned about 0.06% of Beam Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BEAM. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Beam Therapeutics in the fourth quarter worth $330,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Beam Therapeutics by 11.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company's stock worth $98,149,000 after acquiring an additional 404,782 shares during the period. Teacher Retirement System of Texas lifted its position in Beam Therapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 20,767 shares of the company's stock valued at $515,000 after purchasing an additional 3,222 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Beam Therapeutics by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,945 shares of the company's stock valued at $16,094,000 after purchasing an additional 19,453 shares during the period. Finally, Avanza Fonder AB acquired a new position in Beam Therapeutics during the 4th quarter valued at about $1,247,000. Institutional investors and hedge funds own 99.68% of the company's stock.

Beam Therapeutics Stock Down 1.5 %

NASDAQ:BEAM traded down $0.24 during trading hours on Wednesday, reaching $15.76. 598,318 shares of the company's stock were exchanged, compared to its average volume of 1,411,615. The company has a market capitalization of $1.58 billion, a P/E ratio of -8.99 and a beta of 2.35. Beam Therapeutics Inc. has a 12 month low of $13.53 and a 12 month high of $35.25. The business's 50-day simple moving average is $20.61 and its two-hundred day simple moving average is $24.46.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share 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 the consensus estimate of $14.69 million. During the same period in the prior year, the business earned ($1.21) earnings per share. The business's revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BEAM has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday. Scotiabank raised Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 target price on the stock in a research note on Monday, March 10th. Wedbush reiterated an "outperform" rating and set a $57.00 price target on shares of Beam Therapeutics in a research 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 target on the stock in a report on Friday, March 28th. Finally, Jones Trading upgraded shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Beam Therapeutics has a consensus rating of "Buy" and a consensus price target of $50.67.

Insiders Place Their Bets

In other news, CEO John M. Evans sold 30,663 shares of the 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 completion of the sale, the chief executive officer now owns 986,249 shares in the company, valued at $18,097,669.15. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the firm'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 $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares of the company's stock, valued at approximately $3,490,463.60. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,771 shares of company stock worth $803,198. Company insiders own 4.20% of the company's stock.

Beam Therapeutics Company 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.