China Universal Asset Management Co. Ltd. Purchases 1,707 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM)

China Universal Asset Management Co. Ltd. boosted its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,794 shares of the company’s stock after purchasing an additional 1,707 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Beam Therapeutics were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BEAM. Charles Schwab Investment Management Inc. lifted its stake in shares of Beam Therapeutics by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 629,492 shares of the company’s stock worth $15,423,000 after acquiring an additional 36,226 shares during the last quarter. Bellevue Group AG lifted its position in shares of Beam Therapeutics by 7.1% during the third quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock worth $37,194,000 after purchasing an additional 100,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Beam Therapeutics by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock worth $44,297,000 after purchasing an additional 78,102 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Beam Therapeutics by 59.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after purchasing an additional 1,328,414 shares during the period. Finally, Algert Global LLC grew its holdings in shares of Beam Therapeutics by 282.0% in the third quarter. Algert Global LLC now owns 43,523 shares of the company’s stock worth $1,066,000 after purchasing an additional 32,130 shares during the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Down 5.0 %

NASDAQ BEAM opened at $25.92 on Monday. Beam Therapeutics Inc. has a 52 week low of $20.84 and a 52 week high of $49.50. The company has a 50 day moving average price of $26.50 and a 200 day moving average price of $25.76. The firm has a market cap of $2.15 billion, a PE ratio of -14.73 and a beta of 1.92.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). The business had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the previous year, the company posted ($1.22) earnings per share. On average, equities research analysts anticipate that Beam Therapeutics Inc. will post -4.61 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In other news, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the sale, the insider now owns 102,968 shares in the company, valued at approximately $2,541,250.24. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the transaction, the president now directly owns 109,150 shares of the company’s stock, valued at $2,877,194. The trade was a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BEAM shares. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research report on Monday, January 13th. Cantor Fitzgerald raised Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research report on Monday, December 9th. Finally, Royal Bank of Canada lowered their price objective on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Buy” and an average target price of $47.67.

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.