Liontrust Investment Partners LLP Makes New Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

Liontrust Investment Partners LLP acquired a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 80,000 shares of the company’s stock, valued at approximately $1,874,000. Liontrust Investment Partners LLP owned approximately 0.10% of Beam Therapeutics at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Beam Therapeutics by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 143,828 shares of the company’s stock worth $4,752,000 after acquiring an additional 6,102 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of Beam Therapeutics in the fourth quarter valued at $2,673,000. Vanguard Group Inc. boosted its stake in shares of Beam Therapeutics by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock valued at $250,402,000 after purchasing an additional 413,892 shares during the period. UBS Group AG increased its stake in Beam Therapeutics by 118.2% during the 4th quarter. UBS Group AG now owns 260,500 shares of the company’s stock worth $7,091,000 after buying an additional 141,102 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Beam Therapeutics by 34.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 223,929 shares of the company’s stock worth $6,782,000 after buying an additional 57,554 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $27.11 on Tuesday. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The firm’s 50-day moving average is $25.80 and its 200-day moving average is $27.73. The company has a market cap of $2.23 billion, a P/E ratio of -15.23 and a beta of 1.87.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The firm had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $14.18 million. During the same quarter last year, the company posted ($1.08) earnings per share. Beam Therapeutics’s revenue was down 41.3% on a year-over-year basis. As a group, sell-side analysts predict that Beam Therapeutics Inc. will post -4.68 earnings per share for the current year.

Analyst Ratings Changes

BEAM has been the subject of several recent analyst reports. Barclays lowered their target price on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 target price on shares of Beam Therapeutics in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.70.

Insider Buying and Selling

In related news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $24.50, for a total transaction of $1,470,000.00. Following the completion of the transaction, the chief executive officer now directly owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.20% 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.