Hudson Bay Capital Management LP Has $1.70 Million Position in Beam Therapeutics Inc. $BEAM

Hudson Bay Capital Management LP raised its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 55.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Hudson Bay Capital Management LP’s holdings in Beam Therapeutics were worth $1,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BEAM. Squarepoint Ops LLC grew its stake in Beam Therapeutics by 468.3% in the 2nd quarter. Squarepoint Ops LLC now owns 138,765 shares of the company’s stock valued at $2,360,000 after buying an additional 114,349 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Beam Therapeutics during the 2nd quarter worth $654,000. Privium Fund Management B.V. bought a new stake in Beam Therapeutics during the third quarter valued at about $1,480,000. Y Intercept Hong Kong Ltd bought a new stake in Beam Therapeutics during the third quarter valued at about $1,059,000. Finally, SG Americas Securities LLC grew its position in shares of Beam Therapeutics by 498.9% in the third quarter. SG Americas Securities LLC now owns 43,220 shares of the company’s stock valued at $1,049,000 after purchasing an additional 36,004 shares during the last quarter. Institutional investors own 99.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BEAM shares. Royal Bank Of Canada increased their target price on Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Tudor Pickering set a $41.00 price target on Beam Therapeutics in a report on Wednesday, January 21st. UBS Group began coverage on Beam Therapeutics in a research report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Wednesday, January 21st. Finally, Wedbush upped their target price on shares of Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Beam Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM opened at $24.63 on Monday. The business’s fifty day moving average price is $28.42 and its two-hundred day moving average price is $26.23. Beam Therapeutics Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $36.44. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -24.39 and a beta of 2.12.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data 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 return on equity of 30.65% and a negative net margin of 57.24%.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 business earned ($1.09) earnings per share. The business’s revenue was up 280.3% on a year-over-year basis. Research analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Insider Activity

In related news, insider Christine Bellon sold 1,371 shares of Beam Therapeutics stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $34.00, for a total transaction of $46,614.00. Following the completion of the transaction, the insider directly owned 95,667 shares of the company’s stock, valued at $3,252,678. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.

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.