Liontrust Investment Partners LLP Makes New $1.87 Million Investment in Beam Therapeutics Inc. (NASDAQ:BEAM)

Liontrust Investment Partners LLP bought a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in shares of Beam Therapeutics by 125.9% in the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company's stock valued at $27,000 after purchasing an additional 554 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Beam Therapeutics by 4.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 18,174 shares of the company's stock worth $495,000 after buying an additional 704 shares during the last quarter. American International Group Inc. lifted its holdings in Beam Therapeutics by 2.0% during the 1st quarter. American International Group Inc. now owns 36,760 shares of the company's stock worth $1,215,000 after buying an additional 732 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Beam Therapeutics by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 18,418 shares of the company's stock worth $609,000 after acquiring an additional 789 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Beam Therapeutics in the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 99.68% of the company's stock.

Analysts Set New Price Targets

BEAM has been the subject of several recent analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $27.00 target price on shares of Beam Therapeutics in a research note on Wednesday, August 7th. Barclays reduced their price objective 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. increased their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Beam Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $41.70.

Insider Transactions at Beam Therapeutics

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

Beam Therapeutics Stock Down 3.0 %

BEAM traded down $0.82 on Tuesday, hitting $26.29. 702,616 shares of the company traded hands, compared to its average volume of 1,333,942. The company has a 50 day moving average of $25.86 and a 200-day moving average of $27.71. Beam Therapeutics Inc. has a 12-month low of $16.95 and a 12-month high of $49.50. The stock has a market capitalization of $2.16 billion, a PE ratio of -14.77 and a beta of 1.87.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share for the quarter, beating analysts' consensus estimates of ($1.13) by $0.02. The firm had revenue of $11.80 million for the quarter, compared to analyst estimates of $14.18 million. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. Beam Therapeutics's quarterly revenue was down 41.3% on a year-over-year basis. During the same period last year, the firm posted ($1.08) EPS. On average, research analysts anticipate that Beam Therapeutics Inc. will post -4.68 EPS for the current year.

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.