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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $47.67.

A number of research firms recently weighed in on BEAM. Cantor Fitzgerald upgraded Beam Therapeutics to a "hold" rating in a research report on Tuesday, December 10th. Wedbush reissued an "outperform" rating and issued a $57.00 target price on shares of Beam Therapeutics in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Scotiabank started coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $24.00 price target on the stock.

Insider Activity

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total transaction of $1,347,259.60. Following the completion of the sale, the president now directly owns 109,150 shares in the company, valued at $2,877,194. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Bellon sold 1,241 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total value of $30,627.88. Following the completion of the sale, the insider now directly owns 102,968 shares in the company, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Beam Therapeutics by 19.4% in the fourth quarter. SG Americas Securities LLC now owns 12,118 shares of the company's stock valued at $301,000 after purchasing an additional 1,971 shares in the last quarter. Avanza Fonder AB acquired a new stake in Beam Therapeutics in the 4th quarter valued at $1,247,000. GAMMA Investing LLC grew its position in Beam Therapeutics by 23.9% in the fourth quarter. GAMMA Investing LLC now owns 5,722 shares of the company's stock valued at $142,000 after acquiring an additional 1,102 shares during the period. Franklin Resources Inc. acquired a new position in Beam Therapeutics during the third quarter worth $400,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Beam Therapeutics by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company's stock valued at $44,297,000 after acquiring an additional 78,102 shares during the period. Institutional investors and hedge funds own 99.68% of the company's stock.

Beam Therapeutics Stock Performance

BEAM traded up $0.04 during trading on Friday, reaching $23.44. The stock had a trading volume of 948,344 shares, compared to its average volume of 1,006,993. Beam Therapeutics has a 1-year low of $20.84 and a 1-year high of $49.50. The stock has a 50 day moving average of $26.53 and a two-hundred day moving average of $25.70.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The business had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company's quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.22) EPS. Research analysts predict that Beam Therapeutics will post -4.64 EPS for the current fiscal year.

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.