Susquehanna Fundamental Investments LLC Invests $1.31 Million in Beam Therapeutics Inc. (NASDAQ:BEAM)

Susquehanna Fundamental Investments LLC bought a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 52,725 shares of the company's stock, valued at approximately $1,308,000. Susquehanna Fundamental Investments LLC owned approximately 0.06% of Beam Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BEAM. Wealthfront Advisers LLC acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at $41,000. Sterling Capital Management LLC grew its position in shares of Beam Therapeutics by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock worth $60,000 after buying an additional 2,146 shares in the last quarter. KBC Group NV raised its holdings in Beam Therapeutics by 103.2% in the fourth 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. grew its holdings in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after acquiring an additional 1,139 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Beam Therapeutics by 23.9% in the 4th quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock valued at $142,000 after purchasing an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.

Beam Therapeutics Stock Performance

Beam Therapeutics stock traded down $0.42 during midday trading on Monday, hitting $19.82. 1,957,238 shares of the company's stock were exchanged, compared to its average volume of 1,396,864. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -11.26 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 firm's 50 day simple moving average is $21.00 and its 200 day simple moving average is $24.55.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.25) by $0.16. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business's revenue was down 90.5% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, equities research analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Guggenheim reaffirmed a "buy" rating and set a $78.00 price objective on shares of Beam Therapeutics in a research report on Thursday, February 27th. Royal Bank of Canada increased their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Finally, Bank of America upgraded shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $49.45.

Insider Buying and Selling

In related news, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $136,413.90. Following the completion of the transaction, the president now directly owns 190,216 shares of the company's stock, valued at $3,490,463.60. This 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 link. Also, insider Christine Bellon sold 5,674 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $104,117.90. Following the completion of the sale, the insider now owns 117,294 shares of the company's stock, valued at approximately $2,152,344.90. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,771 shares of company stock valued at $803,198 over the last three months. 4.20% of the stock is currently owned by company insiders.

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.