Liontrust Investment Partners LLP Sells 16,290 Shares of Beam Therapeutics Inc. $BEAM

Key Points

• Liontrust Investment Partners LLP reduced its stake in Beam Therapeutics by 14.8%, now holding approximately 93,890 shares worth $1,834,000 as of its latest SEC filing.
• Several hedge funds, including Vanguard Group and ARK Investment Management, have increased their stakes in Beam Therapeutics, indicating growing institutional interest.
• Analysts have set mixed price targets for Beam Therapeutics, with revisions resulting in a current average target price of $48.45 and a general consensus rating of "Buy."

Liontrust Investment Partners LLP lowered its position in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,890 shares of the company's stock after selling 16,290 shares during the quarter. Liontrust Investment Partners LLP owned approximately 0.09% of Beam Therapeutics worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BEAM. LPL Financial LLC boosted its stake in shares of Beam Therapeutics by 5.6% during the fourth quarter. LPL Financial LLC now owns 27,698 shares of the company's stock valued at $687,000 after purchasing an additional 1,462 shares during the period. Franklin Resources Inc. boosted its stake in shares of Beam Therapeutics by 42.0% during the fourth quarter. Franklin Resources Inc. now owns 21,353 shares of the company's stock valued at $530,000 after purchasing an additional 6,315 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Beam Therapeutics by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 128,002 shares of the company's stock valued at $3,174,000 after purchasing an additional 19,158 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Beam Therapeutics by 8.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 30,467 shares of the company's stock valued at $756,000 after purchasing an additional 2,296 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Beam Therapeutics by 4.2% during the fourth quarter. Invesco Ltd. now owns 66,265 shares of the company's stock valued at $1,643,000 after purchasing an additional 2,701 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.

Beam Therapeutics Trading Down 2.0%

BEAM traded down $0.3350 during trading on Wednesday, reaching $16.0150. The stock had a trading volume of 1,809,450 shares, compared to its average volume of 2,089,252. The stock's 50 day moving average is $18.81 and its two-hundred day moving average is $20.55. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.55 and a beta of 2.22. Beam Therapeutics Inc. has a one year low of $13.52 and a one year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.04. The business had revenue of $8.47 million during the quarter, compared to the consensus estimate of $13.29 million. Beam Therapeutics had a negative return on equity of 43.15% and a negative net margin of 661.31%.The firm's quarterly revenue was down 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.11) earnings per share. On average, equities research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

BEAM has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Guggenheim decreased their target price on Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Barclays decreased their target price on Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald upgraded Beam Therapeutics to a "strong-buy" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Beam Therapeutics presently has an average rating of "Buy" and an average target price of $48.45.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $20.50, for a total value of $991,667.00. Following the completion of the transaction, the insider owned 2,073,665 shares in the company, valued at approximately $42,510,132.50. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 49,624 shares of company stock valued at $1,015,628 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

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.