Beam Therapeutics Inc. $BEAM Shares Sold by Liontrust Investment Partners LLP

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

Several other large investors have also made changes to their positions in BEAM. E Fund Management Co. Ltd. bought a new stake in shares of Beam Therapeutics in the first quarter valued at about $219,000. Caitong International Asset Management Co. Ltd acquired a new position in Beam Therapeutics during the 1st quarter worth $87,000. Nuveen LLC acquired a new stake in Beam Therapeutics in the first quarter worth about $3,904,000. Invesco Ltd. lifted its holdings in Beam Therapeutics by 33.2% in the first quarter. Invesco Ltd. now owns 88,291 shares of the company's stock valued at $1,724,000 after buying an additional 22,026 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Beam Therapeutics by 8.0% in the first quarter. Benjamin Edwards Inc. now owns 26,314 shares of the company's stock valued at $514,000 after buying an additional 1,956 shares in the last quarter. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Trading Down 1.0%

Shares of NASDAQ BEAM traded down $0.1630 during midday trading on Thursday, hitting $15.8970. The company's stock had a trading volume of 1,225,439 shares, compared to its average volume of 2,089,019. The stock has a fifty day moving average price of $18.77 and a 200 day moving average price of $20.52. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.54 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 earnings results on Tuesday, August 5th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.04. Beam Therapeutics had a negative return on equity of 43.15% and a negative net margin of 661.31%.The firm had revenue of $8.47 million for the quarter, compared to analysts' expectations of $13.29 million. During the same period in the previous year, the firm earned ($1.11) earnings per share. The business's revenue was down 28.0% compared to the same quarter last year. On average, equities research analysts predict that Beam Therapeutics Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on BEAM shares. Cantor Fitzgerald raised Beam Therapeutics to a "strong-buy" rating in a research report on Monday, July 21st. Barclays reduced their target price on shares of Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Guggenheim cut their price objective on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their target price on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. 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 company's stock. According to MarketBeat.com, Beam Therapeutics presently has a consensus rating of "Buy" and an average target price of $48.45.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of Beam Therapeutics stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total value of $991,667.00. Following the sale, the insider directly owned 2,073,665 shares in the company, valued at approximately $42,510,132.50. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 49,624 shares of company stock valued at $1,015,628. Corporate insiders own 3.50% of the company's stock.

Beam Therapeutics Profile

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.