Ishara Investments LP Takes $1.39 Million Position in Beam Therapeutics Inc. $BEAM

Key Points

• Ishara Investments LP opened a new position in Beam Therapeutics, buying 50,000 shares worth about $1.39 million in the fourth quarter. The stake represents about 1.6% of Ishara’s portfolio.
• Beam Therapeutics continues to attract heavy institutional interest, with firms like ARK Investment Management and State Street increasing their holdings. Roughly 99.68% of the stock is owned by institutional investors and hedge funds.
• The company beat first-quarter expectations, posting an EPS loss of ($0.91) versus the expected ($1.03) and revenue of $31.74 million versus $10.98 million expected. Analysts currently rate the stock a Moderate Buy with a consensus price target of $46.83.

Ishara Investments LP acquired a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $1,386,000. Beam Therapeutics accounts for approximately 1.6% of Ishara Investments LP's portfolio, making the stock its 22nd biggest holding.

Several other large investors have also modified their holdings of BEAM. ARK Investment Management LLC boosted its holdings in shares of Beam Therapeutics by 24.8% in the third quarter. ARK Investment Management LLC now owns 11,038,834 shares of the company's stock valued at $267,913,000 after acquiring an additional 2,190,993 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in shares of Beam Therapeutics in the third quarter valued at approximately $37,212,000. State Street Corp boosted its holdings in shares of Beam Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 5,228,529 shares of the company's stock valued at $144,935,000 after acquiring an additional 1,219,871 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Beam Therapeutics by 237.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,665,385 shares of the company's stock valued at $40,419,000 after acquiring an additional 1,171,977 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at approximately $26,218,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEAM has been the subject of several research analyst reports. Sanford C. Bernstein decreased their price objective on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Tudor Pickering set a $39.00 price objective on Beam Therapeutics in a report on Wednesday, May 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Beam Therapeutics in a report on Monday, April 20th. Wall Street Zen raised Beam Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, 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 target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.83.

Beam Therapeutics Price Performance

Shares of NASDAQ BEAM opened at $32.48 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The stock has a fifty day moving average price of $29.83 and a 200 day moving average price of $28.27. Beam Therapeutics Inc. has a 1-year low of $15.60 and a 1-year high of $36.44. The company has a market cap of $3.34 billion, a PE ratio of -47.76 and a beta of 2.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.12. The firm had revenue of $31.74 million during the quarter, compared to the consensus estimate of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The company's revenue for the quarter was up 323.2% on a year-over-year basis. During the same period last year, the company earned ($1.23) earnings per share. Sell-side analysts forecast that Beam Therapeutics Inc. will post -4.16 EPS for the current year.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Christine Bellon sold 5,956 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $146,398.48. Following the completion of the transaction, the insider owned 109,711 shares in the company, valued at approximately $2,696,696.38. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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, insider Amy Simon sold 6,700 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $164,686.00. Following the completion of the transaction, the insider owned 102,735 shares of the company's stock, valued at $2,525,226.30. The trade was a 6.12% decrease in their position. 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. Over the last three months, insiders have sold 79,544 shares of company stock worth $1,899,942. 3.80% of the stock is owned by insiders.

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.

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