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

Wall Street Zen upgraded shares of Beam Therapeutics (NASDAQ:BEAM) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also issued reports on BEAM. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a report on Friday, July 17th. Sanford C. Bernstein cut their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, May 13th. Bank of America reissued a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.00.

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $29.66 on Friday. The stock’s fifty day moving average is $29.35 and its 200 day moving average is $28.94. Beam Therapeutics has a fifty-two week low of $18.72 and a fifty-two week high of $38.26. The firm has a market capitalization of $3.06 billion, a PE ratio of -34.49 and a beta of 2.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57.

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

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Amy Simon sold 16,667 shares of Beam Therapeutics stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction on Friday, June 26th. The stock was 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 of the company’s stock, valued at $30,132,596.58. This represents a 22.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 301,527 shares of company stock worth $10,468,500. 3.80% of the stock is owned by insiders.

Institutional Trading of Beam Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BEAM. Northwestern Mutual Wealth Management Co. purchased a new stake in Beam Therapeutics in the second quarter worth about $43,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Beam Therapeutics during the 4th quarter valued at about $47,000. Hollencrest Capital Management purchased a new position in Beam Therapeutics during the 1st quarter valued at about $43,000. Larson Financial Group LLC increased its position in Beam Therapeutics by 4,370.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after purchasing an additional 1,923 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Beam Therapeutics in the 4th quarter valued at about $59,000. 99.68% of the stock is currently owned by institutional investors.

About Beam Therapeutics

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.