Beam Therapeutics Inc. (NASDAQ:BEAM) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its position in shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) by 42.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 357,698 shares of the company's stock after selling 265,942 shares during the quarter. Baillie Gifford & Co. owned 0.43% of Beam Therapeutics worth $8,764,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Farallon Capital Management LLC increased its position in shares of Beam Therapeutics by 75.4% during the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company's stock worth $185,404,000 after purchasing an additional 3,401,370 shares during the last quarter. Vanguard Group Inc. increased its position in Beam Therapeutics by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company's stock worth $250,402,000 after buying an additional 413,892 shares during the last quarter. ARCH Venture Management LLC bought a new position in shares of Beam Therapeutics during the 2nd quarter worth approximately $127,530,000. Darwin Global Management Ltd. acquired a new position in shares of Beam Therapeutics during the 1st quarter worth approximately $70,032,000. Finally, Redmile Group LLC lifted its holdings in Beam Therapeutics by 31.5% during the 1st quarter. Redmile Group LLC now owns 1,879,617 shares of the company's stock valued at $62,103,000 after purchasing an additional 449,834 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the sale, the president now directly owns 160,260 shares of the company's stock, valued at $4,210,030.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the sale, the chief executive officer now owns 938,659 shares in the company, valued at $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Giuseppe Ciaramella sold 51,110 shares of Beam Therapeutics stock in a transaction on Monday, October 14th. The stock was sold at an average price of $26.27, for a total value of $1,342,659.70. Following the sale, the president now owns 160,260 shares of the company's stock, valued at approximately $4,210,030.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,894 shares of company stock worth $4,181,745 over the last 90 days. 4.20% of the stock is owned by insiders.

Beam Therapeutics Stock Down 1.6 %

NASDAQ BEAM traded down $0.44 during trading hours on Wednesday, reaching $27.50. The company's stock had a trading volume of 822,497 shares, compared to its average volume of 1,233,838. Beam Therapeutics Inc. has a 1 year low of $20.84 and a 1 year high of $49.50. The firm's 50-day moving average price is $24.44 and its 200-day moving average price is $24.82. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -15.63 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.16) by ($0.01). The company had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.52 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business's revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.22) earnings per share. Equities research analysts anticipate that Beam Therapeutics Inc. will post -4.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Scotiabank started coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $24.00 target price on the stock. Barclays decreased their target price on shares of Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Beam Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Wedbush reiterated an "outperform" rating and issued a $57.00 target price on shares of Beam Therapeutics in a report on Tuesday, November 5th. Finally, Leerink Partners raised Beam Therapeutics from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $27.00 to $39.00 in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy 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 $44.91.

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.