IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Holdings in Beam Therapeutics Inc. $BEAM

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 96.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 383,531 shares of the company’s stock after acquiring an additional 188,243 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Beam Therapeutics were worth $9,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in Beam Therapeutics by 7,080.0% in the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after acquiring an additional 2,478 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Beam Therapeutics by 1,248.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock valued at $65,000 after purchasing an additional 3,534 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Beam Therapeutics by 43.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after purchasing an additional 1,175 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Beam Therapeutics by 300.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,009 shares of the company’s stock worth $97,000 after purchasing an additional 3,007 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of Beam Therapeutics during the third quarter valued at approximately $114,000. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Price Performance

Beam Therapeutics stock opened at $24.73 on Friday. Beam Therapeutics Inc. has a 1-year low of $13.52 and a 1-year high of $36.44. The business has a fifty day moving average price of $28.42 and a 200-day moving average price of $24.21. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -5.58 and a beta of 2.12.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($1.10) earnings per share 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 business had revenue of $9.70 million during the quarter, compared to analyst estimates of $12.83 million. During the same period in the prior year, the business posted ($1.17) EPS. Beam Therapeutics’s revenue was down 32.2% compared to the same quarter last year. On average, equities research analysts anticipate that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, insider Christine Bellon sold 18,629 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total value of $644,749.69. Following the completion of the sale, the insider directly owned 97,038 shares in the company, valued at $3,358,485.18. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

BEAM has been the subject of a number of recent research reports. UBS Group assumed coverage on shares of Beam Therapeutics in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, January 21st. Sanford C. Bernstein upped their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Evercore ISI assumed coverage on Beam Therapeutics in a research report on Monday, November 24th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Tudor Pickering set a $41.00 target price on shares of Beam Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.80.

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.