AMG National Trust Bank Buys Shares of 17,007 Beam Therapeutics Inc. $BEAM

AMG National Trust Bank bought a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,007 shares of the company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Beam Therapeutics by 79.8% in the 1st quarter. CWM LLC now owns 2,684 shares of the company’s stock valued at $52,000 after purchasing an additional 1,191 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company’s stock worth $62,000 after acquiring an additional 534 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Beam Therapeutics by 43.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock worth $66,000 after acquiring an additional 1,175 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Beam Therapeutics during the 1st quarter worth about $87,000. Finally, Quarry LP lifted its holdings in shares of Beam Therapeutics by 200.0% during the 1st quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $88,000 after acquiring an additional 3,000 shares during the period. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BEAM has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, October 8th. Barclays cut their price objective on shares of Beam Therapeutics from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a report on Friday, October 10th. Wall Street Zen upgraded shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Beam Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $45.92.

Beam Therapeutics Stock Performance

NASDAQ BEAM opened at $25.01 on Friday. Beam Therapeutics Inc. has a one year low of $13.52 and a one year high of $35.25. The company’s 50 day moving average price is $23.34 and its 200 day moving average price is $20.07. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -5.56 and a beta of 2.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.04. Beam Therapeutics had a negative net margin of 661.31% and a negative return on equity of 43.15%. The firm had revenue of $8.47 million for the quarter, compared to analyst estimates of $13.29 million. During the same quarter last year, the firm posted ($1.11) earnings per share. Beam Therapeutics’s revenue for the quarter was down 28.0% compared to the same quarter last year. Sell-side analysts forecast that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Beam Therapeutics 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 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.