Integral Health Asset Management LLC Decreases Stock Holdings in Beam Therapeutics Inc. $BEAM

Integral Health Asset Management LLC trimmed its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company’s stock after selling 100,000 shares during the period. Integral Health Asset Management LLC owned about 0.39% of Beam Therapeutics worth $9,708,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BEAM. Arizona State Retirement System grew its stake in shares of Beam Therapeutics by 2.2% in the third quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock worth $650,000 after purchasing an additional 580 shares during the last quarter. Van ECK Associates Corp raised its position in Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after purchasing an additional 707 shares during the last quarter. Profund Advisors LLC lifted its holdings in Beam Therapeutics by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 26,183 shares of the company’s stock worth $445,000 after buying an additional 758 shares during the period. Benjamin Edwards Inc. lifted its holdings in Beam Therapeutics by 3.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 32,728 shares of the company’s stock worth $794,000 after buying an additional 1,072 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Beam Therapeutics by 5.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 28,900 shares of the company’s stock worth $492,000 after buying an additional 1,400 shares during the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Beam Therapeutics

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

Beam Therapeutics Price Performance

NASDAQ:BEAM opened at $25.16 on Friday. The firm’s 50-day moving average price is $28.69 and its 200-day moving average price is $25.81. The company has a market capitalization of $2.56 billion, a PE ratio of -24.91 and a beta of 2.12. Beam Therapeutics Inc. has a 1-year low of $13.52 and a 1-year high of $36.44.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $3.46. Beam Therapeutics had a negative net margin of 57.24% and a negative return on equity of 30.65%. The company had revenue of $114.11 million during the quarter, compared to analysts’ expectations of $13.22 million. During the same period last year, the company posted ($1.09) EPS. Beam Therapeutics’s revenue was up 280.3% on a year-over-year basis. Equities analysts anticipate that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BEAM shares. Tudor Pickering set a $41.00 target price on Beam Therapeutics in a research note on Wednesday, January 21st. Sanford C. Bernstein raised their price target on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. UBS Group assumed coverage on shares of Beam Therapeutics in a report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Finally, Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Beam Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.