E Fund Management Co. Ltd. Buys 704 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

E Fund Management Co. Ltd. raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,174 shares of the company’s stock after acquiring an additional 704 shares during the period. E Fund Management Co. Ltd.’s holdings in Beam Therapeutics were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Beam Therapeutics by 163.7% in the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock valued at $27,000 after buying an additional 686 shares during the period. First Horizon Advisors Inc. raised its holdings in Beam Therapeutics by 125.9% in the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after acquiring an additional 554 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Beam Therapeutics by 200.0% in the 4th quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $41,000 after acquiring an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Beam Therapeutics by 84.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $55,000 after purchasing an additional 1,037 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Beam Therapeutics by 4,605.3% during the third quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock valued at $65,000 after purchasing an additional 2,625 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Trading Down 1.3 %

Shares of BEAM stock traded down $0.29 on Wednesday, hitting $22.24. The stock had a trading volume of 1,020,204 shares, compared to its average volume of 1,424,351. The firm has a market cap of $1.83 billion, a P/E ratio of -11.71 and a beta of 1.88. Beam Therapeutics Inc. has a twelve month low of $16.95 and a twelve month high of $49.50. The company has a fifty day moving average price of $29.84 and a two-hundred day moving average price of $28.16.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.21. The company had revenue of $7.40 million during the quarter, compared to the consensus estimate of $17.09 million. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The company’s revenue for the quarter was down 69.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.33) earnings per share. On average, analysts expect that Beam Therapeutics Inc. will post -5.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BEAM. Barclays decreased their price target on shares of Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. BMO Capital Markets restated an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday. Finally, TheStreet upgraded Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Hold” and an average price target of $40.18.

Insider Transactions at Beam Therapeutics

In other news, President Giuseppe Ciaramella sold 4,534 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the sale, the president now directly owns 169,616 shares of the company’s stock, valued at $5,448,065.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Giuseppe Ciaramella sold 4,534 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $32.12, for a total transaction of $145,632.08. Following the completion of the sale, the president now owns 169,616 shares of the company’s stock, valued at $5,448,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 18,102 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.13, for a total value of $581,617.26. Following the sale, the chief executive officer now owns 1,058,343 shares of the company’s stock, valued at $34,004,560.59. The disclosure for this sale can be found here. Insiders sold a total of 96,804 shares of company stock worth $3,211,869 in the last three months. Insiders own 4.20% of the company’s stock.

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.