14,601 Shares in Beam Therapeutics Inc. $BEAM Bought by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,601 shares of the company's stock, valued at approximately $248,000.

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Several other institutional investors have also added to or reduced their stakes in BEAM. Price T Rowe Associates Inc. MD increased its holdings in shares of Beam Therapeutics by 72.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,026,701 shares of the company's stock valued at $59,112,000 after acquiring an additional 1,273,559 shares in the last quarter. Vanguard Group Inc. grew its position in Beam Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company's stock worth $173,256,000 after purchasing an additional 1,249,303 shares during the last quarter. EcoR1 Capital LLC purchased a new stake in Beam Therapeutics during the 1st quarter worth approximately $10,286,000. Woodline Partners LP increased its stake in Beam Therapeutics by 169.6% during the 1st quarter. Woodline Partners LP now owns 760,611 shares of the company's stock valued at $14,855,000 after purchasing an additional 478,491 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Beam Therapeutics by 10.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,729,444 shares of the company's stock worth $80,448,000 after buying an additional 462,573 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Beam Therapeutics Stock Up 1.4%

Beam Therapeutics stock opened at $25.03 on Thursday. The business's 50-day moving average price is $24.60 and its 200 day moving average price is $20.57. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -5.65 and a beta of 2.40. Beam Therapeutics Inc. has a 52 week low of $13.52 and a 52 week high of $35.25.

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Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.12). The company had revenue of $9.70 million during the quarter, compared to analysts' expectations of $12.83 million. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.The company's revenue for the quarter was down 32.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.17) EPS. Equities analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BEAM. Wall Street Zen lowered shares of Beam Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, November 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group assumed coverage on Beam Therapeutics in a research note on Thursday, October 9th. They issued a "buy" rating and a $41.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Beam Therapeutics from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, October 9th. Finally, Barclays reduced their price target on shares of Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.58.

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Read Our Latest Research Report on Beam Therapeutics

Beam Therapeutics Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.

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