Baillie Gifford & Co. Has $8.76 Million Holdings in Beam Therapeutics Inc. (NASDAQ:BEAM)

Baillie Gifford & Co. lowered its stake in shares of Beam Therapeutics Inc. (NASDAQ:BEAM) by 42.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 357,698 shares of the company’s stock after selling 265,942 shares during the period. Baillie Gifford & Co. owned approximately 0.43% of Beam Therapeutics worth $8,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Beam Therapeutics by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 143,828 shares of the company’s stock valued at $4,752,000 after buying an additional 6,102 shares during the last quarter. Bank of Montreal Can purchased a new position in Beam Therapeutics during the 2nd quarter worth $3,683,000. Vanguard Group Inc. grew its stake in shares of Beam Therapeutics by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,578,768 shares of the company’s stock worth $250,402,000 after acquiring an additional 413,892 shares in the last quarter. Bellevue Group AG grew its stake in shares of Beam Therapeutics by 71.7% in the 1st quarter. Bellevue Group AG now owns 1,193,121 shares of the company’s stock worth $39,421,000 after acquiring an additional 498,300 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Beam Therapeutics by 3.1% in the first quarter. Swiss National Bank now owns 136,700 shares of the company’s stock valued at $4,517,000 after purchasing an additional 4,100 shares during the last quarter. 99.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $39.00 in a research report on Wednesday, November 6th. Barclays reduced their target price on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus raised their target price on Beam Therapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.91.

Beam Therapeutics Stock Down 7.9 %

Shares of NASDAQ:BEAM opened at $27.94 on Wednesday. The firm has a market capitalization of $2.31 billion, a PE ratio of -15.88 and a beta of 1.86. The company has a 50-day moving average price of $24.30 and a two-hundred day moving average price of $24.75. Beam Therapeutics Inc. has a twelve month low of $18.85 and a twelve month high of $49.50.

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

Insider Transactions at Beam Therapeutics

In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the sale, the president now owns 109,150 shares of the company’s stock, valued at approximately $2,877,194. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total value of $1,347,259.60. Following the sale, the president now directly owns 109,150 shares in the company, valued at $2,877,194. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the transaction, the chief executive officer now owns 938,659 shares of the company’s stock, valued at $23,091,011.40. 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 valued at $4,181,745 over the last three months. 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.