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

Integral Health Asset Management LLC trimmed its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 20.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after selling 100,000 shares during the quarter. Integral Health Asset Management LLC’s holdings in Beam Therapeutics were worth $9,708,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Squarepoint Ops LLC raised its position in shares of Beam Therapeutics by 468.3% in the 2nd quarter. Squarepoint Ops LLC now owns 138,765 shares of the company’s stock worth $2,360,000 after purchasing an additional 114,349 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Beam Therapeutics during the 2nd quarter valued at about $654,000. Privium Fund Management B.V. purchased a new stake in Beam Therapeutics during the 3rd quarter valued at about $1,480,000. Y Intercept Hong Kong Ltd bought a new stake in Beam Therapeutics during the 3rd quarter valued at about $1,059,000. Finally, SG Americas Securities LLC increased its stake in Beam Therapeutics by 498.9% during the 3rd 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 in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 1,371 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $34.00, for a total transaction of $46,614.00. Following the completion of the sale, the insider owned 95,667 shares of the company’s stock, valued at approximately $3,252,678. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Beam Therapeutics Trading Down 1.7%

BEAM opened at $25.16 on Friday. The company’s 50 day moving average is $28.69 and its 200 day moving average is $25.81. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -24.91 and a beta of 2.12. Beam Therapeutics Inc. has a 12-month low of $13.52 and a 12-month high of $36.44.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Tudor Pickering set a $41.00 target price on shares of Beam Therapeutics in a research note on Wednesday, January 21st. UBS Group initiated coverage on shares of Beam Therapeutics in a research report on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, January 21st. Sanford C. Bernstein upped their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Beam Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $47.50.

About Beam Therapeutics

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.