Beam Therapeutics (NASDAQ:BEAM) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Beam Therapeutics (NASDAQ:BEAM) from a hold rating to a sell rating in a research note published on Sunday.

BEAM has been the topic of several other reports. Cantor Fitzgerald raised Beam Therapeutics to a “strong-buy” rating in a research note on Monday, July 21st. Barclays reduced their price objective on Beam Therapeutics from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Buy” and an average price target of $46.40.

Beam Therapeutics Price Performance

BEAM opened at $22.91 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -5.09 and a beta of 2.14. The business has a 50-day moving average of $19.10 and a two-hundred day moving average of $19.06. Beam Therapeutics has a 12 month low of $13.52 and a 12 month high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.04. The business had revenue of $8.47 million for the quarter, compared to analyst estimates of $13.29 million. Beam Therapeutics had a negative return on equity of 43.15% and a negative net margin of 661.31%.The company’s revenue was down 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.11) EPS. Equities research analysts anticipate that Beam Therapeutics will post -4.57 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Fmr Llc sold 48,374 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $20.50, for a total transaction of $991,667.00. Following the completion of the transaction, the insider directly owned 2,073,665 shares in the company, valued at $42,510,132.50. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 49,624 shares of company stock worth $1,015,628. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Beam Therapeutics

Several institutional investors have recently modified their holdings of BEAM. BNP Paribas Financial Markets acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at $237,000. Deutsche Bank AG raised its stake in shares of Beam Therapeutics by 54.7% during the 4th quarter. Deutsche Bank AG now owns 67,508 shares of the company’s stock worth $1,674,000 after purchasing an additional 23,871 shares in the last quarter. Graham Capital Management L.P. raised its stake in shares of Beam Therapeutics by 18.8% during the 4th quarter. Graham Capital Management L.P. now owns 12,364 shares of the company’s stock worth $307,000 after purchasing an additional 1,954 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Beam Therapeutics by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 162,407 shares of the company’s stock valued at $4,030,000 after acquiring an additional 6,128 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Beam Therapeutics by 31.7% during the 4th quarter. ProShare Advisors LLC now owns 25,446 shares of the company’s stock valued at $631,000 after acquiring an additional 6,127 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

About Beam Therapeutics

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.