Squarepoint Ops LLC Invests $3.85 Million in Beam Therapeutics Inc. (NASDAQ:BEAM)

Squarepoint Ops LLC bought a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 155,278 shares of the company’s stock, valued at approximately $3,851,000. Squarepoint Ops LLC owned 0.19% of Beam Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC boosted its holdings in Beam Therapeutics by 0.4% in the 4th quarter. Farallon Capital Management LLC now owns 8,239,123 shares of the company’s stock worth $204,330,000 after acquiring an additional 31,000 shares during the period. ARK Investment Management LLC boosted its holdings in Beam Therapeutics by 8.2% in the 4th 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 during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in 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. Nikko Asset Management Americas Inc. boosted its holdings in Beam Therapeutics by 11.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock worth $98,109,000 after acquiring an additional 404,782 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Beam Therapeutics by 18.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,753,142 shares of the company’s stock worth $43,479,000 after acquiring an additional 266,834 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their price target on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 26th. Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price target for the company in a report on Monday, March 10th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Monday, April 7th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Monday, March 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Beam Therapeutics in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.75.

Insider Buying and Selling

In related news, CEO John M. Evans sold 30,663 shares of Beam Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total value of $562,666.05. Following the transaction, the chief executive officer now owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Giuseppe Ciaramella sold 7,434 shares of Beam Therapeutics stock in a transaction dated 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 transaction, the president now directly owns 190,216 shares in the company, valued at $3,490,463.60. This 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 valued at $803,198. 4.20% of the stock is owned by corporate insiders.

Beam Therapeutics Stock Down 2.4%

NASDAQ:BEAM opened at $16.83 on Tuesday. The business’s 50-day moving average price is $18.29 and its 200 day moving average price is $23.87. The firm has a market cap of $1.69 billion, a P/E ratio of -9.56 and a beta of 2.35. Beam Therapeutics Inc. has a 52-week low of $13.53 and a 52-week high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). The firm had revenue of $7.47 million for the quarter, compared to analyst estimates of $14.69 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. Beam Therapeutics’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) earnings per share. Sell-side analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

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.