Ishara Investments LP Makes New $1.39 Million Investment in Beam Therapeutics Inc. $BEAM

Ishara Investments LP acquired a new position in Beam Therapeutics Inc. (NASDAQ:BEAM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,386,000. Beam Therapeutics makes up 1.6% of Ishara Investments LP’s portfolio, making the stock its 22nd biggest holding.

Several other large investors have also recently bought and sold shares of the business. Elmind Capital LP purchased a new position in Beam Therapeutics in the fourth quarter worth $13,204,000. Cinctive Capital Management LP purchased a new position in shares of Beam Therapeutics in the fourth quarter valued at $397,000. Balyasny Asset Management L.P. purchased a new position in shares of Beam Therapeutics in the fourth quarter valued at $907,000. Guggenheim Capital LLC increased its position in shares of Beam Therapeutics by 3.6% in the fourth quarter. Guggenheim Capital LLC now owns 29,508 shares of the company’s stock valued at $818,000 after buying an additional 1,032 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Beam Therapeutics by 17.6% in the fourth quarter. AQR Capital Management LLC now owns 13,204 shares of the company’s stock valued at $366,000 after buying an additional 1,978 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Up 4.8%

BEAM opened at $32.48 on Thursday. The company has a quick ratio of 16.99, a current ratio of 16.99 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.34 billion, a P/E ratio of -47.76 and a beta of 2.25. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $36.44. The business’s fifty day simple moving average is $29.83 and its 200 day simple moving average is $28.27.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.12. The business had revenue of $31.74 million for the quarter, compared to analyst estimates of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The business’s revenue for the quarter was up 323.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.23) earnings per share. As a group, equities research analysts anticipate that Beam Therapeutics Inc. will post -4.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John M. Evans sold 30,078 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $739,317.24. Following the sale, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at $25,740,298.90. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christine Bellon sold 5,956 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $146,398.48. Following the sale, the insider directly owned 109,711 shares in the company, valued at approximately $2,696,696.38. The trade was a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 79,544 shares of company stock worth $1,899,942 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup raised their price target on Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, May 21st. Canaccord Genuity Group assumed coverage on Beam Therapeutics in a research report on Friday, February 20th. They issued a “buy” rating and a $74.00 price target for the company. Finally, Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Beam Therapeutics Company Profile

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.