Janus Henderson Group PLC Boosts Stock Holdings in Beam Therapeutics Inc. $BEAM

Janus Henderson Group PLC increased its stake in Beam Therapeutics Inc. (NASDAQ:BEAM) by 136.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,253 shares of the company’s stock after acquiring an additional 53,752 shares during the period. Janus Henderson Group PLC’s holdings in Beam Therapeutics were worth $2,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Beam Therapeutics during the 1st quarter worth $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Beam Therapeutics in the 4th quarter valued at about $47,000. Larson Financial Group LLC boosted its stake in shares of Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after buying an additional 1,923 shares during the period. Van ECK Associates Corp grew its position in shares of Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after buying an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Beam Therapeutics during the fourth quarter worth about $59,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Beam Therapeutics

In related news, insider Amy Simon sold 16,667 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider directly owned 85,696 shares of the company’s stock, valued at $2,205,815.04. This trade represents a 16.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fmr Llc sold 251,488 shares of Beam Therapeutics stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the transaction, the insider owned 854,583 shares in the company, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 301,527 shares of company stock valued at $10,468,500. 3.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and issued a $47.00 target price on shares of Beam Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Tuesday, July 7th. Sanford C. Bernstein lowered their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Beam Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $49.00.

Beam Therapeutics Stock Performance

Shares of BEAM opened at $27.48 on Friday. The company’s 50 day simple moving average is $30.61 and its 200-day simple moving average is $28.98. The firm has a market cap of $2.84 billion, a PE ratio of -31.95 and a beta of 2.23. Beam Therapeutics Inc. has a 12-month low of $15.60 and a 12-month high of $38.26. The company has a current ratio of 14.57, a quick ratio of 16.99 and a debt-to-equity ratio of 0.09.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.07). The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%.The company’s revenue for the quarter was down 94.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.00) earnings per share. As a group, equities analysts predict that Beam Therapeutics Inc. will post -4.37 EPS for the current year.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.