BNP Paribas Financial Markets Has $13 Million Stock Holdings in Beam Therapeutics Inc. $BEAM

BNP Paribas Financial Markets increased its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 1,856.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 468,910 shares of the company’s stock after buying an additional 444,940 shares during the quarter. BNP Paribas Financial Markets’ holdings in Beam Therapeutics were worth $12,998,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Beam Therapeutics during the fourth quarter worth about $47,000. Larson Financial Group LLC boosted its holdings in Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Beam Therapeutics by 48.7% during the third 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 in the last quarter. Leonteq Securities AG acquired a new stake in Beam Therapeutics during the fourth quarter valued at approximately $66,000. Finally, CWM LLC boosted its holdings in Beam Therapeutics by 15.4% during the fourth quarter. CWM LLC now owns 2,466 shares of the company’s stock valued at $68,000 after purchasing an additional 329 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Beam Therapeutics Stock Performance

Shares of Beam Therapeutics stock opened at $29.40 on Monday. The firm has a fifty day moving average of $28.77 and a two-hundred day moving average of $27.86. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -43.23 and a beta of 2.25. Beam Therapeutics Inc. has a 52 week low of $15.60 and a 52 week high of $36.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.12. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The company had revenue of $31.74 million during the quarter, compared to analyst estimates of $10.98 million. During the same quarter in the previous year, the business earned ($1.23) EPS. The firm’s revenue was up 323.2% on a year-over-year basis. As a group, equities research analysts predict that Beam Therapeutics Inc. will post -4.16 EPS for the current year.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 30,078 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $739,317.24. Following the completion of the transaction, the chief executive officer directly owned 1,047,205 shares of the company’s stock, valued at approximately $25,740,298.90. This represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Giuseppe Ciaramella sold 11,810 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $290,289.80. Following the sale, the president directly owned 218,406 shares in the company, valued at $5,368,419.48. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 79,544 shares of company stock valued at $1,899,942 in the last quarter. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BEAM. Wedbush lifted their price objective on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Canaccord Genuity Group began coverage on Beam Therapeutics in a report on Friday, February 20th. They set a “buy” rating and a $74.00 price objective on the stock. Citigroup lifted their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada lifted their target price on shares of Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.83.

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.