Deutsche Bank AG Acquires New Shares in Beam Therapeutics Inc. $BEAM

Deutsche Bank AG acquired a new position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 104,091 shares of the company’s stock, valued at approximately $3,572,000.

A number of other institutional investors also recently bought and sold shares of BEAM. Hollencrest Capital Management acquired a new stake in Beam Therapeutics in the first quarter valued at $43,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Beam Therapeutics in the 4th quarter worth about $47,000. Larson Financial Group LLC boosted its position in shares of Beam Therapeutics by 4,370.5% in the 3rd 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 in the last quarter. Van ECK Associates Corp grew its stake in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after acquiring an additional 707 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Beam Therapeutics in the 4th quarter valued at about $59,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $30.19 on Thursday. The firm has a 50 day simple moving average of $30.01 and a 200-day simple moving average of $28.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 14.57. The firm has a market cap of $3.12 billion, a PE ratio of -35.10 and a beta of 2.23. Beam Therapeutics Inc. has a 1-year low of $16.02 and a 1-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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.07). The firm had revenue of $0.49 million for the quarter, compared to analyst estimates of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%.The firm’s revenue was down 94.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.00) EPS. On average, equities analysts expect that Beam Therapeutics Inc. will post -4.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BEAM shares. Wall Street Zen downgraded shares of Beam Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Bank of America reissued a “buy” rating and set a $47.00 price target on shares of Beam Therapeutics in a research report on Wednesday, July 8th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Tuesday. Finally, Sanford C. Bernstein reduced their price objective on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued 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 $49.00.

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.