Zurcher Kantonalbank Zurich Cantonalbank Has $564,000 Stock Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 74.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,725 shares of the company’s stock after purchasing an additional 8,818 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Beam Therapeutics were worth $564,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BEAM. Allworth Financial LP boosted its holdings in shares of Beam Therapeutics by 163.7% during the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after buying an additional 686 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Beam Therapeutics by 84.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $55,000 after acquiring an additional 1,037 shares during the period. Signaturefd LLC boosted its holdings in shares of Beam Therapeutics by 4,605.3% during the third quarter. Signaturefd LLC now owns 2,682 shares of the company’s stock worth $65,000 after acquiring an additional 2,625 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Beam Therapeutics by 70.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,312 shares of the company’s stock valued at $80,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Beam Therapeutics during the third quarter worth approximately $144,000. 99.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Fmr Llc sold 1,565 shares of Beam Therapeutics stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total transaction of $48,139.40. Following the sale, the insider now directly owns 2,771,913 shares of the company’s stock, valued at $85,264,043.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Amy Simon sold 7,157 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the sale, the insider now directly owns 86,590 shares in the company, valued at $2,782,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fmr Llc sold 1,565 shares of Beam Therapeutics stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total value of $48,139.40. Following the transaction, the insider now directly owns 2,771,913 shares in the company, valued at $85,264,043.88. The disclosure for this sale can be found here. Insiders sold a total of 96,804 shares of company stock valued at $3,211,869 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Trading Up 2.5 %

Shares of Beam Therapeutics stock opened at $21.74 on Thursday. The firm has a market capitalization of $1.79 billion, a PE ratio of -11.44 and a beta of 1.77. The firm’s 50 day moving average is $31.41 and its 200 day moving average is $28.07. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $2.42. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The firm had revenue of $316.20 million for the quarter, compared to analysts’ expectations of $34.16 million. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. The company’s revenue was up 1481.0% on a year-over-year basis. As a group, research analysts anticipate that Beam Therapeutics Inc. will post -5.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TheStreet raised Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $40.00 in a research report on Monday, January 29th. Wedbush reiterated an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada increased their price target on Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

About Beam Therapeutics

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.