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

Beam Therapeutics Inc. (NASDAQ:BEAM) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.00.

Several analysts have recently weighed in on the stock. Sanford C. Bernstein decreased their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Bank of America reissued a “buy” rating and issued a $47.00 price target on shares of Beam Therapeutics in a research report on Wednesday, July 8th. HC Wainwright restated a “buy” rating on shares of Beam Therapeutics in a research note on Monday, August 10th. Tudor Pickering set a $39.00 price objective on Beam Therapeutics in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th.

Beam Therapeutics Price Performance

Shares of BEAM stock opened at $29.76 on Monday. Beam Therapeutics has a one year low of $16.02 and a one year high of $38.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 14.57. The stock has a fifty day moving average price of $30.11 and a 200 day moving average price of $28.76. The stock has a market cap of $3.07 billion, a P/E ratio of -34.60 and a beta of 2.23.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The business had revenue of $0.49 million during the quarter, compared to the consensus estimate of $16.37 million. During the same period last year, the firm earned ($1.00) EPS. The company’s quarterly revenue was down 94.2% compared to the same quarter last year. Analysts predict that Beam Therapeutics will post -4.49 earnings per share for the current year.

Insider Activity at Beam Therapeutics

In related news, insider Amy Simon sold 16,667 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total value of $429,008.58. Following the sale, the insider owned 85,696 shares of the company’s stock, valued at $2,205,815.04. The trade was a 16.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total value of $8,867,466.88. Following the completion of the sale, the insider owned 854,583 shares in the company, valued at $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,527 shares of company stock valued at $10,468,500 in the last 90 days. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Beam Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BEAM. Hollencrest Capital Management acquired a new stake in shares of Beam Therapeutics during the 1st quarter worth about $43,000. Northwestern Mutual Wealth Management Co. acquired a new position in Beam Therapeutics in the second quarter valued at about $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Beam Therapeutics in the fourth quarter valued at about $47,000. Larson Financial Group LLC grew its stake in Beam Therapeutics by 4,370.5% during the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after buying an additional 1,923 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in 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 buying an additional 707 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

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.