UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Beam Therapeutics Inc. $BEAM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 6.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,551,781 shares of the company’s stock after selling 101,933 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.50% of Beam Therapeutics worth $53,257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in Beam Therapeutics during the 1st quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Beam Therapeutics during the second quarter valued at about $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Beam Therapeutics during the 4th quarter valued at approximately $47,000. Larson Financial Group LLC increased its stake in shares of Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after buying an additional 1,923 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BEAM. Wall Street Zen downgraded Beam Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Sanford C. Bernstein dropped their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Bank of America reissued a “buy” rating and set a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. Tudor Pickering set a $39.00 price target on shares of Beam Therapeutics in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Beam Therapeutics Stock Up 0.9%

BEAM opened at $29.29 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. The company has a market capitalization of $3.03 billion, a PE ratio of -34.06 and a beta of 2.22. The stock’s fifty day moving average is $29.54 and its 200-day moving average is $28.93. Beam Therapeutics Inc. has a one year low of $16.52 and a one year high of $38.26.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The firm had revenue of $0.49 million for the quarter, compared to the consensus estimate of $16.37 million. During the same period in the prior year, the business earned ($1.00) EPS. The company’s quarterly revenue was down 94.2% compared to the same quarter last year. On average, equities analysts predict that Beam Therapeutics Inc. will post -4.49 EPS for the current fiscal year.

Insider Activity

In other news, insider Fmr Llc sold 251,488 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the transaction, the insider owned 854,583 shares in the company, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Amy Simon sold 16,667 shares of Beam Therapeutics stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the transaction, the insider directly owned 85,696 shares in the company, valued at $2,205,815.04. This represents a 16.28% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 301,527 shares of company stock valued at $10,468,500. Insiders own 3.80% of the company’s stock.

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.