Beam Therapeutics Inc. $BEAM Shares Acquired by Janus Henderson Group PLC

Key Points

• Janus Henderson increased its Beam Therapeutics stake by 136.1% in the first quarter, reaching 93,253 shares valued at approximately $2.22 million. Institutional investors collectively own 99.68% of BEAM.
• Beam reported weaker-than-expected quarterly results, with an adjusted loss of $1.18 per share versus the $1.11 consensus estimate and revenue of $0.49 million, down 94.2% year over year.
• Despite recent insider selling and a share price of $27.48, analysts maintain a “Moderate Buy” consensus with an average price target of $49.00; ratings include 10 Buys, two Holds, and one Sell.

Janus Henderson Group PLC raised its position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 136.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,253 shares of the company's stock after buying an additional 53,752 shares during the period. Janus Henderson Group PLC owned about 0.09% of Beam Therapeutics worth $2,222,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BEAM. Concurrent Investment Advisors LLC acquired a new stake in shares of Beam Therapeutics in the fourth quarter worth approximately $2,130,000. Baillie Gifford & Co. boosted its stake in Beam Therapeutics by 39.8% during the 4th quarter. Baillie Gifford & Co. now owns 416,224 shares of the company's stock worth $11,538,000 after purchasing an additional 118,421 shares during the last quarter. Canal Insurance CO acquired a new stake in Beam Therapeutics during the 1st quarter worth $953,000. Ishara Investments LP purchased a new stake in shares of Beam Therapeutics during the fourth quarter worth $1,386,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Beam Therapeutics in the first quarter valued at about $1,267,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Beam Therapeutics Trading Up 0.8%

NASDAQ BEAM opened at $27.48 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 16.99. The stock has a market capitalization of $2.84 billion, a P/E ratio of -31.95 and a beta of 2.23. The firm's 50-day moving average is $30.61 and its two-hundred day moving average is $28.98. Beam Therapeutics Inc. has a 12 month low of $15.60 and a 12 month high of $38.26.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.07). The company had revenue of $0.49 million for the quarter, compared to analyst estimates of $16.37 million. Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. Beam Therapeutics's revenue was down 94.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.00) earnings per share. On average, sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Fmr Llc sold 251,488 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the transaction, the insider owned 854,583 shares of the company's stock, valued at approximately $30,132,596.58. This represents a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy Simon sold 16,667 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $25.74, for a total value of $429,008.58. Following the transaction, the insider owned 85,696 shares of the company's stock, valued at $2,205,815.04. This trade represents a 16.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 301,527 shares of company stock worth $10,468,500 over the last 90 days. 3.80% of the stock is owned by insiders.

Analyst Ratings Changes

BEAM has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a research report on Tuesday, July 7th. Sanford C. Bernstein decreased their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Bank of America reaffirmed a "buy" rating and issued a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Friday, July 17th. Finally, Tudor Pickering set a $39.00 target price on Beam Therapeutics in a research note on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Beam Therapeutics 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.

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