Baillie Gifford & Co. Decreases Stock Position in Beam Therapeutics Inc. (NASDAQ:BEAM)

Baillie Gifford & Co. decreased its position in Beam Therapeutics Inc. (NASDAQ:BEAM) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,236 shares of the company’s stock after selling 49,462 shares during the quarter. Baillie Gifford & Co. owned 0.37% of Beam Therapeutics worth $7,644,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Beam Therapeutics by 59.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock worth $87,044,000 after buying an additional 1,328,414 shares during the period. State Street Corp increased its position in shares of Beam Therapeutics by 12.5% during the third quarter. State Street Corp now owns 3,929,557 shares of the company’s stock worth $96,274,000 after acquiring an additional 437,402 shares during the last quarter. Peregrine Investment Management Inc. acquired a new position in shares of Beam Therapeutics in the fourth quarter worth about $3,932,000. Bellevue Group AG boosted its holdings in Beam Therapeutics by 7.1% in the third quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock valued at $37,194,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Beam Therapeutics by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock valued at $44,297,000 after purchasing an additional 78,102 shares during the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 908,659 shares in the company, valued at approximately $24,306,628.25. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine Bellon sold 1,241 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the sale, the insider now directly owns 102,968 shares in the company, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Beam Therapeutics Stock Up 13.2 %

Shares of NASDAQ BEAM opened at $32.40 on Tuesday. The firm’s 50-day moving average price is $26.81 and its two-hundred day moving average price is $25.62. Beam Therapeutics Inc. has a 52-week low of $20.84 and a 52-week high of $49.50. The stock has a market capitalization of $2.68 billion, a P/E ratio of -18.41 and a beta of 1.92.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BEAM shares. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, February 3rd. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $27.00 to $39.00 in a report on Wednesday, November 6th. Royal Bank of Canada decreased their price objective on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $47.67.

Beam Therapeutics Company 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.