Mutual of America Capital Management LLC trimmed its position in Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,531 shares of the company’s stock after selling 1,222 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Beam Therapeutics were worth $812,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BEAM. Victory Capital Management Inc. boosted its stake in shares of Beam Therapeutics by 8.4% during the first quarter. Victory Capital Management Inc. now owns 21,634 shares of the company’s stock valued at $662,000 after purchasing an additional 1,677 shares in the last quarter. Virtu Financial LLC bought a new stake in Beam Therapeutics in the first quarter valued at approximately $239,000. SG Americas Securities LLC raised its holdings in Beam Therapeutics by 288.8% during the 1st quarter. SG Americas Securities LLC now owns 16,277 shares of the company’s stock worth $498,000 after purchasing an additional 12,090 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Beam Therapeutics by 2.9% in the 1st quarter. Arizona State Retirement System now owns 16,335 shares of the company’s stock worth $500,000 after purchasing an additional 454 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Beam Therapeutics by 11.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 56,872 shares of the company’s stock valued at $1,741,000 after buying an additional 5,902 shares during the period. Institutional investors own 78.63% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $79.00 price target on shares of Beam Therapeutics in a report on Tuesday. Royal Bank of Canada dropped their price target on shares of Beam Therapeutics from $50.00 to $42.00 in a research report on Thursday, May 11th. Finally, Barclays lowered their price objective on Beam Therapeutics from $41.00 to $35.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.45.
Insider Buying and Selling at Beam Therapeutics
In other news, insider Giuseppe Ciaramella sold 1,206 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $32.01, for a total transaction of $38,604.06. Following the completion of the transaction, the insider now owns 48,250 shares in the company, valued at $1,544,482.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.
Beam Therapeutics Price Performance
Shares of NASDAQ BEAM opened at $26.25 on Wednesday. The stock has a market cap of $2.00 billion, a PE ratio of -5.90 and a beta of 1.56. Beam Therapeutics Inc. has a 1 year low of $25.01 and a 1 year high of $73.27. The firm has a fifty day moving average price of $31.63 and a 200-day moving average price of $34.35.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.36) by $0.03. Beam Therapeutics had a negative return on equity of 42.04% and a negative net margin of 412.45%. The business had revenue of $24.21 million for the quarter, compared to the consensus estimate of $14.41 million. On average, research analysts expect that Beam Therapeutics Inc. will post -5.5 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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.
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