Universal Beteiligungs und Servicegesellschaft mbH Grows Stake in Beam Therapeutics Inc. $BEAM

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 88.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,280 shares of the company’s stock after purchasing an additional 33,065 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Beam Therapeutics were worth $1,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BEAM. ARK Investment Management LLC grew its holdings in Beam Therapeutics by 4.3% during the 2nd quarter. ARK Investment Management LLC now owns 8,847,841 shares of the company’s stock valued at $150,502,000 after buying an additional 367,752 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Beam Therapeutics by 2.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,830,738 shares of the company’s stock worth $117,242,000 after acquiring an additional 101,294 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in Beam Therapeutics by 10.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 4,726,799 shares of the company’s stock valued at $80,403,000 after acquiring an additional 456,779 shares in the last quarter. Bellevue Group AG increased its holdings in Beam Therapeutics by 20.6% in the 2nd quarter. Bellevue Group AG now owns 2,889,288 shares of the company’s stock valued at $49,147,000 after acquiring an additional 493,358 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Beam Therapeutics by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,254,261 shares of the company’s stock worth $38,350,000 after purchasing an additional 54,806 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $27.62 on Friday. The stock’s fifty day moving average is $28.24 and its 200 day moving average is $24.03. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $36.44. The firm has a market capitalization of $2.80 billion, a PE ratio of -6.23 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.12). Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The firm had revenue of $9.70 million for the quarter, compared to analysts’ expectations of $12.83 million. During the same period in the previous year, the firm earned ($1.17) earnings per share. The firm’s quarterly revenue was down 32.2% compared to the same quarter last year. Equities analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Insider Activity

In related news, insider Christine Bellon sold 1,371 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $34.00, for a total transaction of $46,614.00. Following the completion of the sale, the insider directly owned 95,667 shares of the company’s stock, valued at approximately $3,252,678. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Beam Therapeutics in a research report on Thursday, October 9th. They set a “buy” rating and a $41.00 price objective for the company. Wall Street Zen raised Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Evercore ISI assumed coverage on Beam Therapeutics in a report on Monday, November 24th. They set an “outperform” rating and a $35.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.80.

Beam Therapeutics 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.