Beam Therapeutics
BEAM on Nasdaq. Biological products, (no diagnostic substances). Market value $2.7bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-14.30 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$25.23 a share, 25% above its 1-year low
Over the past year the price has ranged from $20.23 to $38.26.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $52m | $61m | $378m | $64m | $140m |
| Operating margin | |||||
| Operating margin | -757.0% | -555.6% | -46.7% | -654.3% | -274.6% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.08bn | 0.08bn | 0.10bn | 0.10bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsStrong, 466.4% a year
- Buying back its own sharesNo, 47% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $490,000 last quarter, down 94% on a year ago.
- A loss of $123 million, compared with a loss of $102 million a year ago.
- It loses 242 cents on each $1 of sales, compared with 740 cents a year earlier.
- Over the past 12 months it spent $373 million more cash than it brought in, compared with $356 million a year earlier.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $14m |
| December 2024 | $30m |
| March 2025 | $7m |
| June 2025 | $8m |
| September 2025 | $10m |
| December 2025 | $114m |
| March 2026 | $32m |
| June 2026 | $490,000 |
| Quarter to | Amount |
|---|---|
| September 2024 | -$97m |
| December 2024 | -$90m |
| March 2025 | -$108m |
| June 2025 | -$102m |
| September 2025 | -$113m |
| December 2025 | $244m |
| March 2026 | -$94m |
| June 2026 | -$123m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 277 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $367,910 | <0.1% | New |
| Horizon KineticsMurray Stahl | $287,876 | <0.1% | Cut |
Largest holders overall
- FMR$433m
- Farallon Capital Management, L.L.C.$351m
- ARK Investment Management$351mCut
- Banque Cantonale Vaudoise$343m
- BlackRock$309mAdded
- State Street$200mAdded
- Vanguard Portfolio Management$169mAdded
- Vanguard Capital Management$158mAdded
- ARCH Venture Management$156m
- Sumitomo Mitsui Trust Group$119mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
7 investors own more than 5%.
- FMR LLCPassive investorat least 12.6%−1.0 pts(filed with 1 related holder)Since 31 December 2025
- Farallon Capital Management, L.L.C.Passive investorat least 10.0%0.0 pts(filed with 28 related holders)Since 30 June 2026
- ARK Investment Management LLCPassive investorat least 9.9%−2.3 pts(filed with 1 related holder)Since 30 June 2026
- BlackRock, Inc.Passive investor7.5%Since 31 March 2025
- STATE STREET CORPORATIONPassive investor5.2%Since 31 December 2025
- Vanguard Capital ManagementPassive investor5.0%Since 31 March 2026
- Robert NelsenPassive investorat least 4.6%−1.0 pts(filed with 6 related holders)Since 31 March 2025
- Farallon Capital Partners, L.P.Passive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 12.6%−1.0 pts (filed with 1 related holder) | 31 December 2025 | |
Farallon Capital Management, L.L.C. Passive investor | at least 10.0%0.0 pts (filed with 28 related holders) | 30 June 2026 | |
ARK Investment Management LLC Passive investor | at least 9.9%−2.3 pts (filed with 1 related holder) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 7.5% | 31 March 2025 | |
STATE STREET CORPORATION Passive investor | 5.2% | 31 December 2025 | |
Vanguard Capital Management Passive investor | 5.0% | 31 March 2026 | |
Robert Nelsen Passive investor | at least 4.6%−1.0 pts (filed with 6 related holders) | 31 March 2025 | |
Farallon Capital Partners, L.P. Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $9m, $9m of it under preset trading plans.
- Cavanagh Bethany JSVP, Finance and TreasurerSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 187
- Price
- $24.41
- Value
- $4,565
- Simon AmyChief Medical OfficerSoldunder a preset trading plan
- Date
- 27 July 2026
- Shares
- 16,667
- Price
- $25.74
- Value
- $429,037
- Simon AmyChief Medical OfficerSoldunder a preset trading plan
- Date
- 30 June 2026
- Shares
- 373
- Price
- $34.73
- Value
- $12,954
- Evans John M.CEO, DirectorSoldunder a preset trading plan
- Date
- 30 June 2026
- Shares
- 25,000
- Price
- $34.31
- Value
- $857,685
- Evans John M.CEO, DirectorSoldunder a preset trading plan
- Date
- 29 June 2026
- Shares
- 25,000
- Price
- $35.49
- Value
- $887,352
- Evans John M.CEO, DirectorSoldunder a preset trading plan
- Date
- 1 April 2026
- Shares
- 30,078
- Price
- $24.58
- Value
- $739,317
- Simon AmyChief Medical OfficerSoldunder a preset trading plan
- Date
- 1 April 2026
- Shares
- 6,700
- Price
- $24.58
- Value
- $164,686
- Cavanagh Bethany JSVP, Finance and TreasurerSoldunder a preset trading plan
- Date
- 1 April 2026
- Shares
- 3,242
- Price
- $24.58
- Value
- $79,688
- Bellon ChristineChief Legal OfficerSoldunder a preset trading plan
- Date
- 1 April 2026
- Shares
- 5,956
- Price
- $24.58
- Value
- $146,398
- Ciaramella GiuseppePresidentSoldunder a preset trading plan
- Date
- 1 April 2026
- Shares
- 11,810
- Price
- $24.58
- Value
- $290,290
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Cavanagh Bethany J SVP, Finance and Treasurer | Sold under a preset trading plan | 187 | $24.41 | $4,565 |
| 27 July 2026 | Simon Amy Chief Medical Officer | Sold under a preset trading plan | 16,667 | $25.74 | $429,037 |
| 30 June 2026 | Simon Amy Chief Medical Officer | Sold under a preset trading plan | 373 | $34.73 | $12,954 |
| 30 June 2026 | Evans John M. CEO, Director | Sold under a preset trading plan | 25,000 | $34.31 | $857,685 |
| 29 June 2026 | Evans John M. CEO, Director | Sold under a preset trading plan | 25,000 | $35.49 | $887,352 |
| 1 April 2026 | Evans John M. CEO, Director | Sold under a preset trading plan | 30,078 | $24.58 | $739,317 |
| 1 April 2026 | Simon Amy Chief Medical Officer | Sold under a preset trading plan | 6,700 | $24.58 | $164,686 |
| 1 April 2026 | Cavanagh Bethany J SVP, Finance and Treasurer | Sold under a preset trading plan | 3,242 | $24.58 | $79,688 |
| 1 April 2026 | Bellon Christine Chief Legal Officer | Sold under a preset trading plan | 5,956 | $24.58 | $146,398 |
| 1 April 2026 | Ciaramella Giuseppe President | Sold under a preset trading plan | 11,810 | $24.58 | $290,290 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Feb 2026, plus the 10-Q filed 4 Aug 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.