Beam Therapeutics Inc. (NASDAQ:BEAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Beam Therapeutics Inc. (NASDAQ:BEAM) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.2308.

A number of equities analysts have recently commented on BEAM shares. Benchmark reiterated a “speculative buy” rating on shares of Beam Therapeutics in a research note on Monday, November 17th. Wall Street Zen downgraded shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. Jefferies Financial Group assumed coverage on shares of Beam Therapeutics in a research note on Thursday, October 9th. They set a “buy” rating and a $41.00 price objective on the stock. Evercore ISI started coverage on shares of Beam Therapeutics in a research note on Monday, November 24th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Beam Therapeutics by 2.2% in the third quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock worth $650,000 after buying an additional 580 shares during the period. Van ECK Associates Corp grew its position in shares of Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares during the last quarter. Profund Advisors LLC grew its position in shares of Beam Therapeutics by 3.0% during the second quarter. Profund Advisors LLC now owns 26,183 shares of the company’s stock worth $445,000 after acquiring an additional 758 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Beam Therapeutics by 3.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 32,728 shares of the company’s stock worth $794,000 after acquiring an additional 1,072 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Beam Therapeutics by 43.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after purchasing an additional 1,175 shares during the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Beam Therapeutics Price Performance

Beam Therapeutics stock opened at $27.55 on Friday. Beam Therapeutics has a 12-month low of $13.52 and a 12-month high of $35.25. The firm’s 50-day moving average is $25.42 and its two-hundred day moving average is $22.77. The stock has a market capitalization of $2.80 billion, a P/E ratio of -6.22 and a beta of 2.07.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The company had revenue of $9.70 million for the quarter, compared to analyst estimates of $12.83 million. During the same period in the prior year, the company earned ($1.17) EPS. The company’s revenue was down 32.2% compared to the same quarter last year. As a group, analysts forecast that Beam Therapeutics will post -4.57 EPS for the current year.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.