Y Intercept Hong Kong Ltd Takes Position in Beam Therapeutics Inc. $BEAM

Y Intercept Hong Kong Ltd bought a new position in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,648 shares of the company’s stock, valued at approximately $1,059,000.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP raised its position in Beam Therapeutics by 7,080.0% in the 2nd quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after purchasing an additional 2,478 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Beam Therapeutics by 1,248.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock valued at $65,000 after buying an additional 3,534 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Beam Therapeutics by 43.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after buying an additional 1,175 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Beam Therapeutics in the third quarter worth approximately $114,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Beam Therapeutics in the second quarter worth approximately $200,000. 99.68% of the stock is owned by hedge funds and other institutional investors.

Beam Therapeutics Price Performance

BEAM stock opened at $27.62 on Friday. Beam Therapeutics Inc. has a 1-year low of $13.52 and a 1-year high of $36.44. The business has a 50-day moving average price of $28.24 and a 200 day moving average price of $24.06. The company has a market capitalization of $2.80 billion, a P/E ratio of -6.23 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The business had revenue of $9.70 million for the quarter, compared to analysts’ expectations of $12.83 million. During the same period last year, the business posted ($1.17) EPS. The company’s revenue for the quarter was down 32.2% on a year-over-year basis. On average, analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BEAM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, January 21st. Sanford C. Bernstein lifted their target price on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Tudor Pickering set a $41.00 target price on shares of Beam Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group assumed coverage on shares of Beam Therapeutics in a report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.80.

Insider Activity

In related news, insider Christine Bellon sold 18,629 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69. Following the transaction, the insider directly owned 97,038 shares of the company’s stock, valued at $3,358,485.18. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

About Beam Therapeutics

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.