Jupiter Topco LLC Acquires New Position in Beam Therapeutics Inc. $BEAM

Key Points

• Jupiter Topco LLC acquired 94,969 Beam Therapeutics shares worth approximately $3.26 million, representing about 0.09% of the company. Institutional investors and hedge funds collectively own 99.68% of Beam’s stock.
• Analyst sentiment is broadly positive, with 10 Buy ratings, two Holds and one Sell; the stock has a consensus “Moderate Buy” rating and an average price target of $49.
• Beam reported a quarterly loss of $1.18 per share, missing estimates by $0.07, while revenue fell 94.2% year over year to $0.49 million. Insiders have sold approximately $10.5 million of stock over the past 90 days.

Jupiter Topco LLC acquired a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 94,969 shares of the company's stock, valued at approximately $3,259,000. Jupiter Topco LLC owned about 0.09% of Beam Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Alphabet Inc. acquired a new stake in shares of Beam Therapeutics in the 2nd quarter valued at approximately $11,037,000. Canal Insurance CO bought a new position in Beam Therapeutics during the 1st quarter worth approximately $953,000. Ishara Investments LP acquired a new position in Beam Therapeutics during the fourth quarter valued at approximately $1,386,000. Janus Henderson Group PLC grew its holdings in Beam Therapeutics by 136.1% during the first quarter. Janus Henderson Group PLC now owns 93,253 shares of the company's stock valued at $2,222,000 after purchasing an additional 53,752 shares during the period. Finally, First Trust Advisors LP grew its holdings in Beam Therapeutics by 111.0% during the first quarter. First Trust Advisors LP now owns 135,166 shares of the company's stock valued at $3,221,000 after purchasing an additional 71,110 shares during the period. Institutional investors and hedge funds own 99.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein cut their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Tudor Pickering set a $39.00 price target on shares of Beam Therapeutics in a report on Wednesday, May 13th. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research report on Tuesday, August 25th. Wall Street Zen downgraded Beam Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Sunday, August 16th. Finally, Bank of America reaffirmed a "buy" rating and set a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.00.

Insiders Place Their Bets

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

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $29.29 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -34.06 and a beta of 2.22. The business has a 50 day simple moving average of $29.54 and a 200 day simple moving average of $28.93. Beam Therapeutics Inc. has a 52-week low of $16.52 and a 52-week 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 during the quarter, compared to the consensus estimate of $16.37 million. Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The business's quarterly revenue was down 94.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.00) EPS. Analysts anticipate that Beam Therapeutics Inc. will post -4.49 earnings per share for the current fiscal year.

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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