Once a high-flying plant-based food company, Beyond Meat (BYND) has since become a meme stock, driven by volatile momentum spikes and heavy short covering. That may help explain the reason that institutional investors have stayed away from the stock in recent years.
www.barchart.com
However, recent filings suggest there may be an opportunity in the stock. According to a 13F filing, Philippe Laffont’s Coatue Management initiated a new position in Beyond Meat during the first quarter of 2026. In fact, the fund picked up 343,000 shares of Beyond Meat at an average buy price of $0.76. Given Beyond Meat’s declining revenues, net losses, poor guidance, and heavy dilution, most investors would stay away from the stock.
More News from Barchart
So, Why Would Coatue Hold a Position in the Company At All?
There are two potential reasons. One, Coatue has been heavily invested in non-public plant-based competitors, such as Impossible Foods. Investing in Beyond Meat may be a way for the fund to gain further exposure to a potential trillion-dollar plant-based food market. Two, the firm may view Beyond Meat as a potential turnaround play.
After all, Beyond Meat did see a gross profit of $2 million, which was an improvement from a gross loss of $6.9 million year-over-year (YOY). And its net loss of $28.5 million in the quarter was a major improvement from a year-earlier $61.1 million loss. In addition, according to CEO Ethan Brown, the company has plans for new product categories, including Beyond Immerse, a protein-carbonated drink, functional foods, and expanded distribution partnerships.
Even more interesting, Coatue isn’t the only fund investing in Beyond Meat. In the first quarter, AQR Capital Management added about 7.8 million shares. Their trading model may have detected unusual activity in the stock and bought it, expecting short-term momentum to continue. Further, GMT Capital bought roughly two million shares, which could suggest a bet on a turnaround, or simply a play on meme-stock momentum.
Some Positive Signs…
..
