Beam Therapeutics' (BEAM) "Buy" Rating Reaffirmed at HC Wainwright

Beam Therapeutics (NASDAQ:BEAM - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $80.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 202.80% from the stock's previous close.

BEAM has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 26th. Scotiabank upgraded shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective for the company in a report on Monday. Wedbush restated an "outperform" rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Monday. Guggenheim reissued a "buy" rating and issued a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. Finally, Cantor Fitzgerald raised shares of Beam Therapeutics from a "neutral" rating to an "overweight" rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $50.82.

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Beam Therapeutics Trading Up 2.8 %

Shares of NASDAQ:BEAM traded up $0.73 during trading on Monday, hitting $26.42. 3,020,897 shares of the company's stock were exchanged, compared to its average volume of 1,195,121. Beam Therapeutics has a 1-year low of $20.84 and a 1-year high of $37.49. The firm has a 50-day moving average price of $27.05 and a two-hundred day moving average price of $26.03. The firm has a market cap of $2.21 billion, a P/E ratio of -15.01 and a beta of 1.91.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping analysts' consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $16.47 million. During the same quarter in the previous year, the business earned $1.73 EPS. The business's quarterly revenue was down 90.5% compared to the same quarter last year. As a group, research analysts predict that Beam Therapeutics will post -4.57 EPS for the current year.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the sale, the chief executive officer now directly owns 908,659 shares in the company, valued at approximately $24,306,628.25. This trade represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine Bellon sold 1,241 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the sale, the insider now owns 102,968 shares of the company's stock, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

Institutional Trading of Beam Therapeutics

Hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC acquired a new stake in Beam Therapeutics during the 4th quarter valued at $41,000. GF Fund Management CO. LTD. acquired a new stake in Beam Therapeutics during the fourth quarter worth approximately $43,000. Sterling Capital Management LLC lifted its holdings in Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock worth $60,000 after purchasing an additional 2,146 shares during the last quarter. KBC Group NV lifted its holdings in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after purchasing an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after purchasing an additional 1,139 shares during the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

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.