Amova Asset Management Americas Inc. Acquires 103,939 Shares of Beam Therapeutics Inc. $BEAM

Amova Asset Management Americas Inc. increased its holdings in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,830,738 shares of the company’s stock after acquiring an additional 103,939 shares during the period. Beam Therapeutics makes up 1.1% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 23rd largest holding. Amova Asset Management Americas Inc.’s holdings in Beam Therapeutics were worth $117,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Beam Therapeutics by 2.2% during the third quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock valued at $650,000 after purchasing an additional 580 shares during the last quarter. Profund Advisors LLC increased its position in Beam Therapeutics by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 26,183 shares of the company’s stock valued at $445,000 after buying an additional 758 shares in the last quarter. Benjamin Edwards Inc. increased its position in Beam Therapeutics by 3.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 32,728 shares of the company’s stock valued at $794,000 after buying an additional 1,072 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Beam Therapeutics by 5.1% during the second quarter. Handelsbanken Fonder AB now owns 28,900 shares of the company’s stock valued at $492,000 after buying an additional 1,400 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Beam Therapeutics by 7.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 21,131 shares of the company’s stock worth $359,000 after acquiring an additional 1,434 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BEAM shares. Canaccord Genuity Group assumed coverage on Beam Therapeutics in a research note on Friday, February 20th. They issued a “buy” rating and a $74.00 target price on the stock. Wedbush upped their price target on shares of Beam Therapeutics from $57.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Evercore started coverage on shares of Beam Therapeutics in a research report on Monday, November 24th. They set an “outperform” rating and a $35.00 price objective on the stock. Benchmark reaffirmed a “speculative buy” rating on shares of Beam Therapeutics in a report on Monday, November 17th. Finally, Tudor Pickering set a $41.00 target price on shares of Beam Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.19.

Beam Therapeutics Stock Performance

BEAM opened at $27.44 on Thursday. The company’s 50-day simple moving average is $28.91 and its two-hundred day simple moving average is $25.40. The stock has a market capitalization of $2.80 billion, a P/E ratio of -27.17 and a beta of 2.12. Beam Therapeutics Inc. has a 52-week low of $13.52 and a 52-week high of $36.44.

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

Insider Buying and Selling

In other news, insider Christine Bellon sold 1,371 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $34.00, for a total value of $46,614.00. Following the transaction, the insider directly owned 95,667 shares in the company, valued at $3,252,678. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.50% of the company’s stock.

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.