IQ EQ FUND MANAGEMENT IRELAND Ltd Has $799,000 Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 145.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,198 shares of the company’s stock after buying an additional 19,080 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Beam Therapeutics were worth $799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in Beam Therapeutics by 8.2% in the fourth quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company’s stock worth $175,287,000 after acquiring an additional 536,930 shares in the last quarter. State Street Corp increased its position in Beam Therapeutics by 12.5% during the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after buying an additional 437,402 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Beam Therapeutics by 11.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock valued at $98,149,000 after buying an additional 404,782 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Beam Therapeutics by 11.4% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock worth $98,109,000 after buying an additional 404,782 shares during the last quarter. Finally, Peregrine Investment Management Inc. bought a new stake in shares of Beam Therapeutics during the 4th quarter worth about $3,932,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Trading Up 1.3 %

BEAM opened at $22.19 on Friday. The stock has a market cap of $2.21 billion, a PE ratio of -12.61 and a beta of 1.91. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $35.25. The stock’s 50 day simple moving average is $26.67 and its 200-day simple moving average is $25.87.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. The business had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm’s revenue for the quarter was down 90.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities analysts forecast that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BEAM. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Monday, March 10th. Guggenheim restated a “buy” rating and issued a $78.00 price objective on shares of Beam Therapeutics in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $50.20.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the sale, the chief executive officer now owns 908,659 shares in the company, valued at approximately $24,306,628.25. The trade was a 3.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine Bellon sold 1,241 shares of the 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 of the company’s stock, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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.