Man Group plc Invests $4.46 Million in Beam Therapeutics Inc. $BEAM

Man Group plc bought a new stake in Beam Therapeutics Inc. (NASDAQ:BEAM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 129,820 shares of the company’s stock, valued at approximately $4,455,000. Man Group plc owned about 0.13% of Beam Therapeutics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ARK Investment Management LLC boosted its stake in Beam Therapeutics by 12.9% in the 4th quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company’s stock valued at $345,590,000 after purchasing an additional 1,428,355 shares during the period. BlackRock Inc. acquired a new stake in shares of Beam Therapeutics during the second quarter worth $308,796,000. State Street Corp boosted its position in shares of Beam Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 5,228,529 shares of the company’s stock valued at $144,935,000 after acquiring an additional 1,219,871 shares during the period. ARCH Venture Management LLC bought a new stake in shares of Beam Therapeutics in the second quarter valued at about $155,771,929. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Beam Therapeutics by 20.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,730,282 shares of the company’s stock valued at $75,684,000 after acquiring an additional 467,133 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Insider Buying and Selling

In other Beam Therapeutics news, insider Amy Simon sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the transaction, the insider directly owned 85,696 shares in the company, valued at $2,205,815.04. The trade was 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 at this link. Also, insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88. Following the sale, the insider owned 854,583 shares of the company’s stock, valued at $30,132,596.58. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 301,527 shares of company stock worth $10,468,500 over the last three months. 3.80% of the stock is currently owned by insiders.

Beam Therapeutics Price Performance

BEAM stock opened at $29.32 on Monday. Beam Therapeutics Inc. has a 52 week low of $16.02 and a 52 week high of $38.26. The business has a 50-day simple moving average of $29.84 and a 200 day simple moving average of $28.87. The company has a quick ratio of 14.57, a current ratio of 14.57 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.03 billion, a PE ratio of -34.09 and a beta of 2.23.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $16.37 million. During the same quarter in the previous year, the firm posted ($1.00) earnings per share. Beam Therapeutics’s quarterly revenue was down 94.2% compared to the same quarter last year. Sell-side analysts anticipate that Beam Therapeutics Inc. will post -4.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BEAM has been the subject of several analyst reports. Bank of America reiterated a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Beam Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Tuesday, August 25th. Finally, Sanford C. Bernstein cut their price target on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Beam Therapeutics 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.