UBS Group AG Lowers Position in Beam Therapeutics Inc. $BEAM

UBS Group AG cut its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 14.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 973,843 shares of the company’s stock after selling 163,790 shares during the quarter. UBS Group AG’s holdings in Beam Therapeutics were worth $26,995,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares during the period. Van ECK Associates Corp raised its position in shares of Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after buying an additional 707 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Beam Therapeutics by 1,248.8% in the second quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock worth $65,000 after buying an additional 3,534 shares in the last quarter. CWM LLC raised its position in shares of Beam Therapeutics by 15.4% in the fourth quarter. CWM LLC now owns 2,466 shares of the company’s stock worth $68,000 after buying an additional 329 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Beam Therapeutics by 300.1% during the third quarter. SBI Securities Co. Ltd. now owns 4,009 shares of the company’s stock valued at $97,000 after purchasing an additional 3,007 shares in the last quarter. 99.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

BEAM has been the topic of a number of research reports. Wedbush raised their price target on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein raised their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Tudor Pickering set a $41.00 price objective on Beam Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada raised their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.17.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $32.32 on Monday. The stock’s 50 day simple moving average is $27.21 and its two-hundred day simple moving average is $27.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -47.53 and a beta of 2.26. Beam Therapeutics Inc. has a fifty-two week low of $15.35 and a fifty-two week high of $36.44.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The firm had revenue of $31.74 million for the quarter, compared to analysts’ expectations of $10.98 million. During the same period in the previous year, the firm posted ($1.23) EPS. The business’s revenue for the quarter was up 323.2% compared to the same quarter last year. As a group, analysts expect that Beam Therapeutics Inc. will post -4.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John M. Evans sold 30,078 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $739,317.24. Following the completion of the transaction, the chief executive officer directly owned 1,047,205 shares in the company, valued at $25,740,298.90. The trade was a 2.79% decrease in their position. The sale 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 business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $146,398.48. Following the completion of the transaction, the insider owned 109,711 shares of the company’s stock, valued at approximately $2,696,696.38. The trade was a 5.15% decrease in their ownership of the stock. 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 have sold 79,544 shares of company stock valued at $1,899,942 in the last quarter. Insiders own 3.80% of the company’s stock.

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.